Technical Glitches: PSX Forced to Resume Trading on Old System.
Monday, November 1, the exchange will be switched to the old trading system. source: brecorder.com

The Pakistan Stock Exchange (PSX) has confirmed that from Monday, November 1, the exchange will be switched to the old trading system, known as the Karachi Automated Trading System (KATS). The announcement was released for two and a half hours on Wednesday due to “technical problems” caused by the recently adopted Chinese trading and monitoring platform.

In the statement issued, PSX noted that:

Implementing this complex program is a major task to ensure no service disruptions for all market participants. It is worth mentioning that 18 mock meetings were made before go- live. Live environment, however, presents its unique challenges.

PSX

Address all issues in the Jade Trading Terminal

The PSX IT team and the Shenzhen Stock Exchange (SZSE) technical teams are working with local traders to solve all Jade Trading Terminal (JTT) issues. Over time, the SZSE trading platform may be used as part of a new trading system (NTS). The universal test will begin before the new system is implemented, explains the stock exchange.

PSX

Purchased new software from the Shenzhen Stock Exchange

Before the development mentioned above, PSX had purchased new software from the Shenzhen Stock Exchange for $ 2.85 million. The acquisition was intended to increase security against data leaks and theft attempts, protect investor data and integrate the national market with regional and international stock markets.

Conclusion:

The Pakistan Stock Exchange (PSX) announced that the bourse would be reverted to the old trading system – called the Karachi Automated Trading System (KATS) from Monday, November 1. The decision comes amid tensions in the stock market on Wednesday as “technical problems” caused by the recently adopted Chinese trading platform and surveillance forced the Pakistan Stock Exchange (PSX) to suspend trading for two and a half hours. However, last week, investors lost millions of rupees due to technical problems in the new area.

How useful was this article?

Please rate this article

Average rating / 5. Vote count:

LEAVE A REPLY

Please enter your comment!
Please enter your name here