Merging the trading platforms of the Islamabad and the Lahore Stock Exchanges is a very unique idea; for which there is no precedent of this calibre and technological sophistication in the world.
The most crucial and significant part of this project was the state of the art, pioneering technology required for such an endeavour. Thus, we have ensured the best technology of its kind and example is used to bring this idea to reality. The exceptional nature of the technology used to merge the trading platforms of ISE and LSE would assist us in achieving the objectives of the UTS project to ensure efficient, secure and transparent trading.
The IT department of LSE has always remained aggressive and innovative, and has taken the lead in making the automation of many essential projects possible. These include the automation of the basic Trading System and the Online Trading System. Making Pre-trade Verification Systems automated and running smoothly, in addition to establishing Remote Electronic Trading Floors at Faisalabad and Sialkot. The instigation of a Common Trading Platform for the ISE and LSE would be yet another break through in the history of the capital markets.
Of course due to the fact that a Unified Trading System is just as complicated as it sounds, the IT department had to face, and conquer many major challenges. A few of these complications included the issue of making sure there was Consistent Market Dissemination to both LSE & ISE members.
As this was one of the major challenges and demands of the successful execution of the project, the issue was duly addressed and resolved. The IT team had to make sure there were equal opportunities to trade for both LSE & ISE members. The High Availability Demand of the system was critical given the nature of the application.
The task of providing a 'cost effective solution' with minimum initial investment was another challenge in addition to implementing the 'invest as you grow strategy'. Both were effectively tackled.
Another huge challenge the IT team had to face was making sure there were alternate power sources, servers and connectivity links, so as to support the maximum uptime of real-time UTS facilities. We are proud to declare that the technology used to devise the entire system shall ensure that UTS will remain functional, through alternate arrangements, even in the case of failures of any one power source, server on link between LSE & ISE.
We expect 750 logins from LSE members and 100 trading terminals from ISE members at the day of launch. We assure our members that the systems are well scaled and prepared to take the initial anticipated load and possess the capacity to scale up with the anticipated increased trading load as well. Several mock live sessions have been conducted with the involvement of end-users for functional and stress testing of the system.
Trading system Ultra Trade, reporting system Lahore Stock Services, pre-trade margin verification systems (TRF), pre-trade UIN verification, clearing and settlement system, Ultra Trade Control System have been modified successfully by the IT department of Lahore Stock Exchange to cater the need of Unified Trading System for both stock exchanges. It could happen successfully with the co-ordinated efforts of both IT teams of LSE & ISE.
All existing trading work stations (TWS) will be used by the traders of both stock exchanges and it is additionally worth mentioning that there is no or little need of end user training. It is anticipated that through the initiation of UTS there would be a significant increase in volume, liquidity and retention of volume along with a huge increase in the outreach of the stock market through the use of this modern up to date IT system. Tapping the retail investment through Internet Trading Terminals and attracting institutional investment by efficient and transparent systems is one of our main priorities.
We at the LSE and ISE are prepared to integrate other regional offshore markets with the help of this one of its kind IT system, developed along the lines of internationally acceptable standards.
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