PSX Set to Implement New Trading System

After the failed launch of the new trading system by the Pakistan Stock Exchange in late 2021, the PSX is once again all set to replace the 20-year-old Karachi Automated Trading System. Official sources told ProPakistani that PSX will launch the new trading system (NTS), deemed necessary for the progress of the capital market in Pakistan, in the coming days. Earlier in February, Securities and Exchange Commission of Pakistan (SECP) Chairman Akif Saeed met with representatives of the brokerage industry to deliberate the successful re-launch of the NTS. The chairman and his team were apprised of the experiences, including the issues and challenges, faced by brokerage houses during mock tests of Jade Trading Terminal (JTT) and other ancillary systems that have recently been conducted by PSX to ensure successful testing of the functionalities and speed before going-live with NTS. The PSX has been conducting mock sessions of the new trading systems for some time now. In a recent notice, the PSX announced that during the three market-wide mock sessions conducted in March and April this year, no issues were reported. The mock sessions were conducted in coordination with the Pakistan Stock Brokers Association (PSBA) and TRE Certificate Holders/Securities Brokers (TRECHs). With the mock sessions now completed, the PSX has set a deadline of May 15 to go live with the new system. Back in October 2021, the PSX launched the new trading system (NTS), which was procured from the Shenzhen Stock Exchange (SZSE). At the time of launch, PSX labeled it a state-of-the-art, robust, advanced trading & surveillance system having readiness for new products and additions. The PSX held 18 mock sessions before go-live but reverted to the previous system i.e. Karachi Automated Trading System (KATS) within a matter of days after citing issued with the Jade Trading Terminal (JTT), the front-end Order Management System (OMS). While reverting to KATS, PSX had expressed hope that the NTS will be implanted again within a few weeks once the matters concerning the front-end system are fully resolved. However, subsequently, the new system was never implemented again.