Pakistan Stock Exchange reverts to 20-year-old trading system

Published October 31, 2021
A sign of the Pakistan Stock Exchange is seen on its building in Karachi in 2016. — Reuters
A sign of the Pakistan Stock Exchange is seen on its building in Karachi in 2016. — Reuters

KARACHI: The Pakistan Stock Exchange (PSX) said on Saturday it is reverting to the previous trading system as a short-term measure to provide uninterrupted services to all brokers.

The exchange replaced the 20-year-old Karachi Autom­ated Trading System with the Designated Time Schedule (DTS), which it bought from China’s Shenzhen Stock Exchange (SZSE), on October 25. Subsequent sessions witnessed thin volumes as users complained about the absence of basic features and frequent glitches causing trade execution delays.

“The PSX IT team and the SZSE technical teams are working with the local vendor to address the issues in JTT,” the PSX statement said while referring to the front-end trading terminal that connects to the DTS.

“The PSX will initiate and organise market-wide testing before go-live,” it noted. “Once the matters concerning the front-end system are fully resolved, we expect to implement the new trading system in a few weeks,” it said.

Speaking to Dawn, Pakis­tan Stockbrokers Association Secretary General Bilal Farooq Zardi welcomed the decision to go back to the old system while IT experts fix the bugs in the DTS. “We’re in favour of the new system, but it should be adopted only when it’s fully ready,” he said.

Published in Dawn, October 31st, 2021

Editorial

27 Nov 2021

Supporting ECP

ALTHOUGH the government bulldozed legislation on electronic voting machines through parliament, the reality is that...
27 Nov 2021

Forgiving the Taliban

IF there is one takeaway from Thursday’s gathering of more than 1,000 Shia Hazaras in Kabul, it is the call given...
Living in fear
Updated 27 Nov 2021

Living in fear

THE registration of a blasphemy case against four members of a family from a village on the outskirts of Lahore has...
26 Nov 2021

State Bank’s projections

THE macroeconomic projections listed by the State Bank of Pakistan in its annual report on the nation’s economy...
Ad distribution
Updated 26 Nov 2021

Ad distribution

If present govt can muster will to achieve this task it would set a solid precedent that no future govt would find easy to undo.
26 Nov 2021

Messy passengers

NEWS that passengers on a PIA flight from Manchester to Islamabad left so much litter on the plane that it led to a...