PSX reverts to old trading system after Chinese trading system encountered serious technical glitches

The Pakistan Stock Exchange (PSX) reverted to the old trading system on Saturday after the newly-acquired Chinese trading system encountered serious technical glitches.

The decision comes after several complaints were reported as the newly-acquired Chinese trading system encountered serious technical glitches during the week, reported Geo News.

The new trading system (NTS) -- which has been procured from the Shenzhen Stock Exchange (SZSE), China -- was officially launched on October 25 and the PSX had held 18 mock sessions before formally launching the new system.

PSX will be using Karachi Automated Trading System (KATS) -- from Monday, November 1.

"In order to address the concerns with JTT, PSX, in consultation with brokers and Security Exchange Commission of Pakistan (SECP), is reverting to the previous system (KATS) as a short term measure to provide uninterrupted trading for all TREC-Holders," said PSX.

The stock market said some material issues have been encountered in the Jade Trading Terminal.

In a statement issued on Saturday, the stock market said, "Once the matters concerning the front-end system are fully resolved, we expect to implement the NTS in a few weeks".

( With inputs from ANI )

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