Refuting the rumours of flaw in the new trading system, the Pakistan Stock Exchange (PSX) has said that the new trading engine (NTS) was working exactly as per the specifications, according to a PSX statement.
“The processing speed of the system held true in the live environment,” the statement highlighted, adding that around 580 million shares were traded in the market on Thursday.
The NTS was procured from the Shenzhen Stock Exchange (SZSE) and deployed on October 25, 2021 at the PSX.
The additional benefit of the NTS was system-readiness for new products and additions, according to the statement.
However, teething issues were experienced, which are common with any major technological transition.
Prior to the deployment, 18 mock trading sessions were held for all brokers.
The concerns, enhancements and issues highlighted by the broker committee were examined by PSX and the Securities and Exchange Commission of Pakistan (SECP).
As per the agreement, most were catered prior to live deployment, while some were mutually agreed to be delivered after going live, the statement said.
The decision to go live was taken by PSX after consultation and mutual agreement of the Pakistan Stock Brokers Association, the broker coordination committee, other leading brokerage houses and SECP.
Moreover, some issues – material and non-material – have been highlighted by brokers since NTS has gone live.
The issues were primarily pertaining to the Jade Trading Terminal (JTT) developed by a local vendor upon brokers’ demand.
Published in The Express Tribune, October 29th, 2021.
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