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Markets Print 2019-11-27

PSX, Shenzhen Stock Exchange sign agreement to upgrade system

Pakistan Stock Exchange (PSX) and Shenzhen Stock Exchange (SZSE) on Tuesday signed an agreement to upgrade trading and surveillance systems at a ceremony held in Shenzhen, a major city in the Chinese province of Guangdong.
Published 27 Nov, 2019 12:00am

Pakistan Stock Exchange (PSX) and Shenzhen Stock Exchange (SZSE) on Tuesday signed an agreement to upgrade trading and surveillance systems at a ceremony held in Shenzhen, a major city in the Chinese province of Guangdong.

SZSE General Manager Wang Jianjun, PSX Ltd Chairman Sulaiman S Mehdi and General Manager of China Financial Futures Exchange Huo Ruirong attended the signing ceremony, according to China Economic Net (CEN).

It is an exciting practice in respect of the Belt and Road Initiative and China-Pakistan Economic Corridor (CPEC).

As a breakthrough in technological cooperation between emerging markets, it marks the first instance of Chinese securities technology system going global, a victory won by SZSE in the fierce international competition with global top suppliers. According to the agreement, SZSE, based on its latest independently-developed trading and surveillance system and the actual development of Pakistan's capital market will upgrade the existing PSX trading system and build a market surveillance system for PSX.

The new system will significantly improve PSX's safe operation capacity, market operation efficiency, and risk control, further enhance the competitiveness and influence of PSX in the region, and lay a more solid foundation for the development and expansion of Pakistan's capital market.

Copyright Associated Press of Pakistan, 2019

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