PSX, DBAG sign data licensing agreement

0
122

[ad_1]





KARACHI: The Pakistan Stock Exchange (PSX) has signed an exclusive data licensing agreement with the leading exchange operator Deutsche Borse AG for enhancing the depth and coverage of its market data product offerings globally.
According to a statement issued on Wednesday, DBAG – a German company offering marketplace organizing for the trading of shares and other securities – would be the exclusive licensor of the PSX market data to all current and prospective international PSX data consumers for an initial term spanning five years.
Starting January 1, 2022, Deutsche Borse will be the sole licensor of the PSX market data for international customers. This data cooperation agreement is a significant step ahead for the PSX, which will allow the Pakistan Stock Exchange to extend its market data reach globally.
With this agreement, the Pakistan bourse will increase its global footprint, with the aim of leveraging Deutsche Borse’s international reach to significantly expand its market data client base and attract foreign investors to participate in the PSX markets.
Farrukh H Khan, MD and CEO of Pakistan Stock Exchange, said: “Our broader vision is to increase market participation by supporting easy and equitable access to high quality information. With the growing sophistication of our market, partnerships with the global exchange networks and data vendors extend our international presence.”
Nadir Rahman, COO of PSX, said: “In the coming months, [the] PSX is looking forward to implementing new technologies that will deliver additional value to customers and shape the future of the industry. This arrangement presents us with an opportunity to expand our geographic footprint through collaboration with one of the largest exchange operators on enhancing the depth and coverage of our market data product offerings.”
Alireza Dorfard, head of market data + services at Deutsche Borse, said: “With this partnership, we are providing clients with an additional market data offering in a growing market. At the same time, we are reducing their administrative requirements and increasing [the] overall efficiency.”
The Pakistan Stock Exchange in recent years has introduced various innovative financial products designed to cater to the needs of a growing appetite among the international investors looking to get exposure in an exciting emerging economy, which offers considerable value. – TLTP




[ad_2]

Source link