The Pakistan Stock Exchange (PSX) will reparing to operationalise a newly acquired trading platform by mid June this year.
As per local media reports, the new trading system, bought from Shenzhen Stock Exchange (SZSE) for $2.85 million, has a built-in surveillance system, which means it is capable of preventing and detecting data leakages and theft attempts.
Besides strengthening security features to safeguard investors’ data, integration of the national bourse with three Chinese international stock markets including the SZSE, Shanghai and Hong Kong exchanges will allow cross-listing of companies and help attract foreign investment at PSX.
The system will also save time by concluding a trading session in less than a minute as compared to 30 minutes that the current and outdated Karachi Automated Trading System (KATS) requires. This would in turn increase trading hours which would lead to an increase in trade volumes in daily sessions.
It is pertinent to mention here that many stockbrokers have raised allegations of that officials copy and sell data on a daily basis to other stockbrokers and investors.
To address these issues, the new trading system carries a built-in surveillance system that will free the stock market of having to carry out manually surveillance through acquiring data from KATS. The new system would automatically address complaints about investors’ data leakages and theft as to which investors bought which shares at what prices.
Furthermore, local media reports claim that PSX was mulling over introducing new products to increase trade activities at the local bourse.
SZSE is the third largest stock market in the world in terms of trading value. The new trading system will bring the PSX on a par with international stock exchanges.