Multimillion dollars PSX trading and surveillance system acquired from China to go live
*The much anticipated Pakistan Stock Exchange (PSX) trading and surveillance systems acquired from China’s Shenzhen Stock Exchange (SZSE) is expected to go live by March next year.*
“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,” Farrukh H. Khan, the Chief Executive Officer and Managing Director of PSX told *Arab News*.
“The implementation will also encourage and boost investors’ confidence because of the robustness of the system and effective surveillance,” he said.
Back in November 2019, a contract was signed between then PSX Chairman Sulaiman S Mehdi and the Chief Executive Officer of Shenzhen Stock Exchange, Wang Jianjun to purchase the system.
The system offered by SZSE is a state-of-the-art, robust system. The additional benefits of the SZSE trading system would be built-in risk management, market access, market data dissemination, market control, real-time trading system, disaster Recovery & System operation, monitoring and management, growth enterprise market (so far known as Small and Medium Enterprise trading), bonds/term finance certificate trading, single stock option trading, index option trading and real time fault-tolerant system.
“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,” Khan said.