(Yicai Global) Nov. 26 -- The Shenzhen Stock Exchange will help the Pakistan Stock Exchange to upgrade its trading and monitoring systems. This will be the first time that the bourse has exported its technology, opening the door to global sales of China's market systems technology.
Under the agreement, the Shenzhen exchange will upgrade the PSE's system and build a market monitoring mechanism based on its latest self-developed technology and the needs of the country's capital market, the SSE said in a statement today. The Pakistan Stock Exchange is the only stock exchange in the south Asian country.
A consortium made up of the Shenzhen Stock Exchange, the China Financial Futures Exchange, the Shanghai Stock Exchange, China-Pakistan Investment and Habib Bank acquired a 40 percent stake in the Pakistan Stock Exchange at the end of 2016. The three Chinese exchanges together own a 30 percent stake.
The Shenzhen bourse won the bidding for the systems upgrade from a field of international systems providers. The two exchanges held a signing ceremony in the coastal Chinese city of Shenzhen today.
The new system is expected to greatly improve the Pakistan bourse's safe operation, efficiency, risk prevention and control, the SSE said. It is also likely to enhance the PSE's competitiveness and influence in the region as well as lay a solid foundation for the development and growth of Pakistan's capital market.
Editor: Tang Shihua