TECHNOLOGY

1
(No Transcript)
2
TECHNOLOGY CORE OF SOLUTIONS
3
SINCE THE AUTOMATION IN 1997
Open-out-cry
CTS (Computerised Trading System) 1995-96
KATS (Karachi Automated Trading system) 1997
Server upgrade
KATS upgrade
VLAN (Virtual Local Area Network)
Remote Access
4
CLEARING RISK MANAGEMENT
Manual Settlement
Electronic Settlement
Screen-based computerized COT Trading
Real-time Exposure monitoring
T 3
T 1 (Spot)
National Clearing Settlement System
5
CENTRAL DEPOSITORY SYSTEM
Physical Delivery
Book-Entry (Dematerialised Immobilised)
Connected to Delivery vs Payment
6
WEB SITE OF THE EXCHANGE
KSE is providing market information through its
web site www.kse.net.pk formerly www.kse.com.pk.
The average daily hits have increased
tremendously. At present, the average daily hits
are around 3 million.
Initially, the Exchange started its web site with
128 Kbps. Last year the bandwidth was increased
up to 2 MB, which is being completely utilized.
Currently, the Exchange is providing market
information to the institutions/ investors free
of cost. The Exchange has requested PTCL to
install optic fibre cable.
7
AVERAGE DAILY HITS ON WEBSITE
(in million)
8
Beginning of fully automated trading As on
October 09, 2003
9
HIGHEST TURNOVER IN A DAY
(Shares in million)
10-09-98
21-03-00
31-12-02
08-08-03
07-08-03
10
HIGHEST TRADES IN A DAY
28-08-03
10-09-03
21-08-03
07-08-03
04-08-03
11
WHAT HAS CHANGED

• All transactions are fully automated

• Introduction of T 3 settlement system

• Future contracts

• Undisclosed Trading

• COT period extended to 10 working days

• Cap on COT Rates

• Risk management system
• On-line Exposure
• Hourly Capital Adequacy

• CDC

• NCSS

• Squaring up of Trades on KATS

• Live Quotes on Mobile Phones

• Display Only Terminals (DOT)

12
TECHNOLOGICAL CHALLENGES AHEAD

• ODD lots trading on KATS

• Up gradation of Hardware

• On-line pre-trade verification of exposures

• On-line pre-trade verification of Capital
  Adequacy

• Implementation of Value At Risk (VAR) mechanism

• Over The Counter Market (OTC)

• Introduction of new trade instruments (Index,
  Futures Options)

• On-line access for internet trading

13
(No Transcript)