SINDH, Pakistan – The Pakistan Stock Exchange is set to acquire a trading and surveillance system worth $2.85 million from the Shenzhen Stock Exchange in China to help boost its capabilities.
The contract between the PSX and SZSE has already been signed by the two parties, with the Chief Executive Officer of the Shenzhen Stock Exchange Wang Jianjun and the PSX Chairman Sulaiman S Mehdi both signing the purchase agreement.
According to the Chairman of the PSX, the trading and surveillance system that the SZSE has offered to them for purchase is a robust system and a tried and tested state of the art system. The trading system that the PSX is going to have soon will significantly change their system as it can offer several additional benefits, including built-in risk management. The new SZSE trading system will also include advancements such as market access, market control, market data dissemination, monitoring and management, disaster Recovery and System operation, real-time trading system, bonds and term finance certificate trading, index option trading, single stock option trading, real-time fault-tolerant system, and a growth enterprise market which is also known as the Small and Medium Enterprise trading.
Aside from the additional benefits of the SZSE trading and surveillance system that the PSX can leverage on moving forward, it can also open further accesses to the PSX.
According to the PSX chairman, the China Connect, which is another additional interface that the new trading system can bring will give the PSX access to several other exchanges that the SZSE is already connected with at the moment such as Hong Kong and Shanghai. Mehdi further stated that, through the access, Pakistan and PSX will now have an open passage for fresh business opportunities with the Asian market. Further, the improved data quality that the SZSE system can provide will also immensely compound the data vending potential of the PSX and its overall capabilities, said the PSX chairman.
The new trading and surveillance system from the SZSE comes with several impressive features such as real-time monitoring, trade replay, ex-post investigation, case management, data query and reporting, security and audit, surveillance task management, and job schedule system.
In a statement given by the PSX Chairman, still commenting on the plan to acquire the system that the SZSE offered, he said that the PSX has received massive applause and support, especially from the shareholders in the capital market as well as the brokerage industry and the listed corporate sector as all of them will stand to benefit and gain from the efficient operations and fresh possibilities that the new and better trading and surveillance system will bring in to the PSX.