Lahore, February 20, 2015 (PPI-OT): A large number of participants and representatives of Electronic and Print Media were present at the time of launching ceremony of Algo Trading Software organized by the Management of Lahore Stock Exchange today in the Auditorium of the Exchange. It has been learnt that Lahore Stock Exchange Limited is endeavouring to bring back liquidity at LSE’s Order Book for which a number of initiatives has been taken by the management of LSE.
On the occasion, Mr. Aftab Ahmed CH., CEO and Managing Director of LSE informed the participants that since 2006, with decline in stock market activities, LSE’s market share has been partially shifted to other exchange, reason being low liquidity and thereon insignificant trading volume and subsequent flight of investors from the Exchange.
He further explained that Algo aims to not only improve liquidity at the Exchange, but also benefit brokers who engage in the practice of arbitrage. Algo Trading is Software which will find arbitrage opportunities automatically on the basis of pre-defined parameters to be entered in the system by the brokers themselves.
Responding to a question on the practical usage and advantage of Algo, Mr. Aftab said that Algo will take advantage of the price difference between the two exchanges based on the spread defined by the broker himself. Lastly, he also indicated that another project which is being rolled-out at LSE will be inaugurated on Monday.
Mr. Aftab also quoted that with improvement of liquidity due to recent development will attract institutional investors at the LSE and it is hoped that trading activities at LSE would increase significantly. The participants much appreciated the efforts of LSE for the development of the capital market.
For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange (LSE)
Lahore Stock Exchange Building,
19, Khayaban-e-Aiwan-e-Iqbal, P. O. Box: 1315,
Lahore – 54000, Pakistan