The Pakistan Stock Exchange (PSX) has inaugurated a new trading and surveillance system, which its Managing Director Farrukh H Khan described as a “major milestone.”
“The new trading and surveillance system is not only safe and reliable, but it is also a high-performance, high-scalability, and low-latency system,” the stock exchange’s PR department stated on Wednesday.
The trading system has a “remarkable safe-operation record,” since it has been functioning at China’s Shenzhen Stock Exchange (SZSE) without interruption for the past two decades.
“The system runs on top-of-the-line latest servers with faster processing speeds and faster trades execution speeds, providing enhanced capacity to increase trading volumes,” the statement said.
MD Khan stated during the opening event that the automation of the PSX trading operations began over 20 years ago and that a “cutting-edge, state-of-the-art trading and surveillance system” has now been installed.
The managing director explained the system, saying it supports multiple products such as equities, closed-end funds, bonds, stock futures, ETFs, flexible future contracts with easy provisioning of multiple future contracts, and other derivative products that will be launched in the future.
Meanwhile, PSX Chief Market Operations Officer Jawad Hashmi stated that with the launch of the new system, there will be an opportunity to increase overall trading hours due to the time saved due to its inherent efficiency.
With a processing speed of 100,000 trades per second, the New Trading & Surveillance System (NTS) includes 86 real-time alerts and 105 reports.
On existing servers, the high-performance trading system can process 2,000 orders per second or four million orders per day, and its capacity can be increased by 100 times by simply adding additional servers.
Furthermore, the trading system is always available, with automatic fail-over completed in less than 10 seconds and a local disaster recovery switching time of less than 10 minutes.