On November 26, the Signing Ceremony of PSX Trading and Surveillance Systems between SZSE and Pakistan Stock Exchange (PSX) was successfully concluded in Shenzhen. It is a lively practice of the Belt and Road Initiative and the China-Pakistan Economic Corridor and a breakthrough in the technology cooperation between emerging markets. It’s also the first time that SZSE had its technology systems participate in the fierce competition with world’s top system suppliers on the international stage and won victory, making the first securities technology systems in China go abroad. SZSE President & CEO Wang Jianjun, PSX Chairman Sulaiman S. Mehdi, China Financial Futures Exchange (CFFEX) General Manager Huo Ruirong, etc. attended the ceremony.
Technology systems are the lifelines of stock exchanges. SZSE’s technology team has nearly 1,000 people. After nearly three decades’ independent R&D, the technology team has accumulated profound professional knowledge in such core fields as trading, surveillance, information disclosure and financial cloud, as well as world-leading core technical indicators, and maintains the world record of safe operation for 17 years straight. SZSE has the capability to provide more secure, more reliable, more economical and more effective technology systems to international markets including Pakistan.
Since it became a strategic shareholder of PSX as a core member of the Chinese consortium in January 2017, SZSE has, in line with the principles of “Sincerity, Pragmatism, Mutual Benefits and Win-win Results”, actively promoted the improvement of the technological capability of PSX. At invitation, SZSE participated in PSX’s international bidding on the upgrading of technology systems. Through close communication, field survey and repeated demonstration, the teams from the two parties developed technology development planning and product plans based on the situation of the Pakistani market, which were generally accepted by PSX and market institutions and stood out from numerous technology systems from around the world and won the bid.
According to the agreement, SZSE will upgrade PSX’s existing trading system and build a market surveillance system based on the newest generation of trading and surveillance systems independently developed by SZSE and the development realities of the Pakistani capital market. The new systems will significantly improve the safe operation capability, market operation efficiency and risk control level of PSX and further enhance PSX’s competitiveness and influence in the region, laying a solid foundation for the development and expansion of the Pakistani capital market.
At present, the era of fintech has arrived. It will certainly have profound influence on the business model, operation mechanism and surveillance logic of the global securities market. SZSE has always been adhering to the “technology-led” idea to serve technological innovation well and make good use of technological innovation. Next, SZSE will continue to follow the arrangements and requirements of China Securities Regulatory Commission (CSRC), drive market cooperation through technology, promote interconnection of financial infrastructure and mutually beneficial integration of markets along the Belt and Road and provide long-term, stable, sustainable financial innovation services for these markets.
