Muhammad Asad Tahir Bhawana

The Pakistan Stock Exchange (PSX) has successfully launched its new trading and surveillance system aligning with the objective to upgrade and improve its technological capabilities and functionalities, according to WealthPK. The system is a highly advanced platform for securities trading and surveillance, prioritizing safety and reliability. Notably, it exhibits exceptional performance in terms of scalability, low latency, and high throughput. The trading and surveillance system implemented by the PSX draws upon the successful model employed by China-based Shenzhen Stock Exchange (SZSE) that has achieved an impressive track record of 20 years of safe operation, with no interruptions in trading. This adoption underscores the PSX's commitment to implementing a secure and dependable system.

To accomplish this technological advancement, the PSX utilizes cutting-edge servers known for their exceptional processing speed and execution efficiency. This significant upgrade facilitates faster trade executions and enables the PSX to handle increased trading volumes effectively. During the launch of this new system at the PSX, Farrukh H. Khan, the PSX Managing Director, congratulated all the stakeholders and emphasized the significance of this milestone achievement. Farrukh noted that after more than two decades of automation in the stock exchange trading processes, the PSX has successfully introduced a state-of-the-art system.

The newly implemented trading system supports a wide range of products, including equities, closed-end funds, bonds, stock futures, ETFs, and flexible future contracts. It also provides flexibility to accommodate multiple contracts and other derivative products to be launched in future. Farrukh highlighted the successful launch of the system, noting the positive feedback received from brokers, investors, and other market participants regarding its seamless performance. He expressed his gratitude to the PSX staff, Pakistan Stock Brokers Association (PSBA), TREC Holders, and other stakeholders, specifically acknowledging the efforts of the information technology, trading department, and Project Management Office teams.

He also expressed his gratitude to the Chinese counterparts at the Shenzhen Stock Exchange (SZSE) for their cooperation in procuring and implementing the new trading and surveillance system at the PSX. Adeel Javaid, PSX Chief Information Officer, commended the introduction of the new system and highlighted its key features. He said the system offered user-friendly trading business management functions and ensured trading continuity through its high availability features.Jawad Hashmi, Chief Market Operations Officer PSX, discussed the business advantages brought about by the new trading system.

He emphasized the ease of trading and the extended accessibility of the debt market to all TREC holders, brokers, and investors. Furthermore, he mentioned that the new system’s efficiency allowed the possibility of expanding overall trading hours, thus maximizing the benefits of time saved. He concluded by noting the successful relaunch of the new trading system, which seamlessly handled over 650,000 trades in the initial eight days following its installation.

Credit : Independent News Pakistan-WealthPk