Following the Board meeting, the Pakistan Stock Exchange (PSX) formally announced that the new trading and surveillance system had been introduced. This was done in keeping with PSX’s goal to improve and expand its technological capability and usefulness.
It is a cutting-edge, secure, and highly sophisticated system for trading and monitoring stocks.
Importance of New System Implemented by PSX
The new trading and surveillance system is high-performance, highly scalable, and low latency in addition to being safe and reliable. The trading system has been in use at the Shenzhen Stock Exchange (SZSE) in China for 20 years without a single trade halt, a remarkable safe-operation record.
The new trading and surveillance system is powered by the most cutting-edge servers available, which have faster processing and trade execution rates, increasing their capacity to handle higher trading volumes.
Farrukh H. Khan, MD PSX, spoke during the launch of the new system and congratulated all parties involved. He said, “It is a big moment and a landmark achievement for Pakistan Stock Exchange that after a period of over 20 years, since the automation of the Stock Exchange trading processes started, we have introduced a cutting-edge, state-of-the-art trading and surveillance system.
This trading system provides support for multiple products which includes equities, closed-end funds, bonds, stock futures, ETFs, flexible future contracts with easy provisioning of multiple future contracts and other derivative products which will be launched in future. We have launched this system successfully as evidenced by its smooth and seamless performance as experienced by the brokers, investors and other market participants.”
He went on to say, “I thank and congratulate all PSX staff, Pakistan Stock Brokers Association (PSBA), TREC Holders and other stakeholders, particularly our Information Technology, Trading Department and Project Management Office teams, who worked hard under the guidance and supervision of the PSX Board and the SECP, to implement this system.
Lastly, but most importantly, I would like to thank our Chinese counterparts at SZSE for the cooperation they extended to us for procuring and implementing this new trading & surveillance system at Pakistan Stock Exchange.”
PSX Chief Information Officer Adeel Javaid praised the launch of the new trading and monitoring system at the exchange and outlined its key components, saying, “The new system provides easy-to-use trading business management functions and enhances the ability to ensure the trading business continuity via high availability features.”
Jawad Hashmi, the PSX Chief Market Operations Officer, said during the introduction of the NTS, “One of the business advantages with the new trading system is ease of trading and enhanced outreach of debt market to all TREC Holders/brokers and the investors. There will also be a possibility to enhance the overall trading hours as a result of the time saved due to the inherent efficiency of NTS processes”.
He further added, “We have now successfully relaunched the NTS which has smoothly and seamlessly handled over 650,000 trades in the first eight (8) days of the system’s installation”.
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