PSX to launch new trading system acquired from China

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KARACHI – The Pakistan Stock Exchange (PSX) is all set to introduce a new trading system acquired from China’s Shenzhen Stock Exchange (SZSE), revealed burse’s chief executive Farrukh H. Khan.

The SZSE – the world’s third-largest stock market in terms of trading value – hold a 40 percent stake in the PSX.

Pakistan signed $5 million contract with Chinese stock exchange in November 2019 to acquire Trading and Surveillance System in order to improve its operational and technological level.

The new trading system was first scheduled to be implemented in March 2021.

“We expect to launch within the month of October. There were certain requirements that our stakeholders had requested to accommodate in the trading system which now have been implemented,” Khan told Arab News.

The news system is expected to ensure transparency in trading and make PSX more attractive for investors.

PSX was declared Asia’s best stock market and the world’s fourth best performing market in 2020 by Market Currents, a New York-based research firm.

However, last month it was downgraded by Morgan Stanley Capital International (MSCI) due to a continuous drop in share prices of its listed companies.

Read more: https://pakobserver.net/psx-holds-gong-ceremony-on-listing-of-octopus-digital/

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