Unified trading at LSE, ISE from Dec

Posted on 11.08.06 by StockPK Team @ 10:37 am    

The Lahore Stock Exchange (LSE) has planned mock trading of Unified Trading System (UTS) by the end of current month.

“The UTS would be a common platform for trading in commonly-listed securities on a real-time basis through execution of orders entered by members of Lahore and Islamabad Stock Exchanges,” said Hamid M Imtiazi, Managing Director, LSE, while speaking at a press conference here on Tuesday.

He informed that computerisation work has already been completed at the LSE in this regard while integration of UTS with ISE was being made.

He expressed the hope that formal launching of UTS would be possible in next month. “With the inception of UTS, it is expected that volume of stock exchange would augment in healthy competitive environment and the securities market of the country in general and LSE and ISE in particular would progress,” he observed.

LSE MD said the joint steering committee of UTS had finalised its recommendations and after getting approval from Securities and Exchange Commission of Pakistan (SECP), formal launching would be made from next month.

“The LSE, having copyright registration right, will provide new opportunities to attract other exchanges to its trading platform,” he said adding “LSE would play institutional role in reduction of transaction cost and provide easier access to investors to a bigger pool of liquidity”.

Asif Baig Mirza, Director, LSE, said internet-based trading had been a strong point of LSE for quite some times. “Internet-based trading accounted for about 80 per cent and remote workstations are playing vital role in this connection,” he observed adding good volumes are being registered from Faisalabad via remote workstations. Similarly, he informed that ISE was also planning to integrate trading system up to Peshawar and Abbotabad.

It was also informed on the occasion that annual general meeting of LSE also approved accounts of the last year. “The reserves of LSE have jumped by 45 per cent while balance sheet footing has been increased by 20 per cent, from Rs1.22 billion to Rs1.47 billion. On the other hand, he added, expenditure has increased by four per cent while surplus after tax has been Rs102.30 million against last year’s Rs98.61 million. He claimed that financial position of the LSE had improved.

Source: The News