KARACHI: The Pakistan Stock Exchange (PSX) has signed an agreement with Deutsche Börse under which the German stock exchange will act as the exclusive licensor of the PSX market data to all current and prospective international data consumers for five years.
Speaking to Dawn on Wednesday, a PSX official said the national stock exchange already has “tens of data clients around the world”.
“The PSX has been issuing licences to international data clients like Bloomberg until now. Going forward, Deutsche Börse will issue licences on our behalf while we’ll continue delivering the data,” he said, adding that licence fees constitute an “important” revenue stream for the exchange.
On the local front, however, the PSX intends to continue issuing licences itself. “The local market is not as developed as the international market. Yet we have multiple clients within Pakistan that buy our data,” he said.
The exchange said in a press release Deutsche Börse will be the sole licensor for international customers Jan 1 onwards — a move that will allow the national stock exchange to “extend its market data reach globally… with the aim of leveraging Deutsche Börse’s international reach to significantly expand its market data client base and attract foreign investors to participate in PSX’s markets”.
A range of data products will be accessible to international clients through Deutsche Börse as the offering includes real-time, delayed as well as end-of-day data.
The PSX sells at least six kinds of data services and vending products, including real-time feeds, end-of-day data, historical data, corporate announcement feed and general data services. Clients of general data services include major international redistributors, like Bloomberg LP and Markit Group Ltd.
Published in Dawn, December 16th, 2021
