The Pakistan Stock Exchange (PSX) has achieved a significant milestone with the launch of its new trading and surveillance system. Farrukh H Khan, the Managing Director of PSX, described it as a “big moment and a landmark achievement.”?
According to a statement from the stock exchange’s media department, the new system is not only safe and reliable but also high-performance, highly scalable, and low latency.
The trading system boasts an impressive track record of safe operation, having been successfully used at China’s Shenzhen Stock Exchange (SZSE) for the past two decades without any interruptions.
It operates on the latest top-of-the-line servers, offering faster processing and trade execution speeds, thus enhancing the capacity to handle increased trading volumes.
During the launch ceremony, MD Khan emphasized that the automation of PSX trading processes began more than 20 years ago, and now they have implemented a cutting-edge, state-of-the-art trading and surveillance system. He highlighted that the system supports multiple products, including equities, closed-end funds, bonds, stock futures, ETFs, and flexible future contracts.
It also allows for easy provisioning of multiple future contracts and will accommodate other derivative products in the future. Jawad Hashmi, the Chief Market Operations Officer of PSX, mentioned that the new system’s inherent efficiency will save time, potentially leading to an extension of overall trading hours.
The New Trading & Surveillance System (NTS) comprises 86 real-time alerts and 105 reports, capable of processing 100,000 trades per second.
The high-performance trading system can handle 2,000 orders per second or four million orders per day on the existing servers. Furthermore, its capacity can be increased up to 100 times by adding more servers.
The system ensures constant availability, with automatic fail-over completed within 10 seconds, and a local disaster recovery switching time of less than 10 minutes.?