PSX’s Trading and Surveillance System Will Go Live in March
Pakistan Stock Exchange (PSX) trading and surveillance system is expected to go live by the upcoming March.
It was acquired from China’s Shenzhen Stock Exchange (SZSE) in November 2019 and is one of the most anticipated developments in Pakistan’s trading climate. The then chairman of PSX, Sulaiman S. Mehdi, had signed the contract with the Chief Executive Officer of Shenzhen Stock Exchange, Wang Jianjun, to purchase the system.
According to a news article by Arab News, Chief Executive Officer and Managing Director of PSX, Farrukh H. Khan, said, “The system acquired at the cost of around $5 million is in the process of implementation and is expected to come live by March next year”.
He said that the implementation of the system would also boost investors’ confidence and encourage more investors to come towards PSX because of the robustness of the system and effective surveillance.
The SZSE trading system has built-in risk management, market access, market data dissemination, market control, real-time trading system, disaster Recovery and System operation, monitoring and management, growth enterprise market (so far known as Small and Medium Enterprise trading), bonds/term finance certificate trading, single stock options trading, index options trading and real-time fault-tolerant system.
PSX chairman said,
I am sure that increased transparency [through the] stronger surveillance framework and system in place as well as new products like options and index trading that will be available on Pakistan exchange, will continue to increase attractiveness for international investors from the Middle East to take the advantage of profitable opportunities in Pakistan.