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PSX extends trading suspension due to technical issues

New trading system DTD develops glitches

SAMAA | - Posted: Oct 27, 2021 | Last Updated: 1 month ago
SAMAA |
Posted: Oct 27, 2021 | Last Updated: 1 month ago

Photo: Online

The Pakistan Stock Exchange (PSX) extended the suspension of trading “to conclude review” of the technical issues it encountered earlier in the day when the trading was suspended for two hours.

According to a PSX notification issued around noon on Wednesday, trading in the stock market was hampered by a technical glitch in the new trading system purchased from China.

The PSX announced that trading was closed from 12pm to 2:05pm. However, after 2pm the suspension was extended for another half an hour.

The PSX-100 index rose 693 points, or 1.53%, shortly before the trading was suspended.

Pakistan has recently acquired a new trading system from China for Rs460 million. The new system was introduced on Monday, October 25.

The new trading system DTS was purchased from the Shenzhen Stock Exchange (SZSA). Its acquisition is aimed at enhancing security against data leakage and theft, protecting investors data, and connecting the national market to regional and international stock markets.

However, investors have lost millions of rupees due to technical glitches in the newly acquired DTS, which left investors struggling.

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