ISLAMABAD – The Islamabad Stock Exchange (ISE) is planning to launch the second phase of Islamabad Electronic Exchange System (IEES) by mid of May, 2013 to enhance the business volume of ISE.
“The volume of business is expected to increase by 100 per cent from the existing volume of the ISE after launching the system in the stock exchange”, said Zahid Latif Khan, Director ISE.
Talking to APP, he said the system will enable us to extend the network of online trading by installing the remote terminals especially the villages and small towns in Northern Punjab, Azad Kashmir, Gilgit Baltistan and Khyber Pakhtunkhwa.
The first phase of IEES was launched in September, 2012, aiming to provide facility to ISE investors and traders to buy and sell the shares because the majority of them were using the Karachi Automated Trading System (KATS) for purchasing and selling the shares. It was observed that while trading through ISE, the traders were facing difficulties in their trading as sometimes either buyers or sellers were missing whenever they wanted to take or off-load their positions in the market.
Keeping in view the problem, there was a greater demand for launching the first phase of IEES which helped the investors to trade through the ISE besides the business volume of ISE also witnessed a surge.
Moreover, th e second phase of IEES would be launched by mid of next month which would be helpful for further resolving the investor’s problems and brokers’ issues, said another official of the ISE.
He said that the new software would enable the traders and investors to place their orders at ISE and Karachi Stock Exchange simultaneously because the IEES is inter-linked with the KATS.
Through this system the brokers can get their detailed reports on taxes and commissions they earned for facilitating their investors. The system would be fool proof even the ISE administration would not be able to access this system, he added.
He further said that the clients who are trading thought KATS would
be transferred to IEES system for trading which will also help ISE to increase its volume.