Palestine Exchange Posted
Wednesday, 02/24/2021 — The Palestine Exchange has commenced the final pre-launch phase of its new digital trading system, which is to go live in late March. A virtual simulation environment, in use until March 7th, will test performance of Inet the CSD System, the Broker Management System (BMS) and the Xtreme trading platform.
Mr. Ahmad Aweidah, CEO of the Palestine Exchange, praised the collaboration between the Exchange implementation team and brokerage firms. ‘The Exchange worked closely with brokers to seamlessly weave their operations into the new trading environment,’ said Aweidah. ‘I am confident that our ongoing cooperation continues to build a modern, competitive securities market.’
A key element of the new electronic environment is the digital transformation platform (aDTP) which performs the operations of the Depository and Settlement department. These include investor account management, securities transfer, balance inquiries, and the BMS. ‘The BMS consolidates all trading-related operations into a single management system,’ explained Aweidah. ‘Interactive screens let brokers efficiently manage all investor orders while simultaneously accessing a wealth of information about trades, investors and stocks.’
Once operational, investors will use the Exchange’s web page to access the BMS as well as a variety of other services, including account management, electronic service activation, and balance inquiries.
The Palestine Exchange acquired its new trading systems from Nasdaq in late 2018 and immediately began integration with it’s internally developed CSD platform. In spite of the exceptional circumstances imposed by the COVID-19 pandemic, the development of PEX’s advanced market infrastructure was brought to a satisfactory conclusion.