PSX, Deutsche Börse AG sign exclusive data licensing agreement

KARACHI:Pakistan Stock Exchange signed an exclusive data licensing agreement with the leading exchange operator Deutsche Börse for enhancing the depth and coverage of its market data product offerings globally.

DBAG will be the exclusive licensor of PSX Market Data to all current and prospective international PSX Data consumers for an initial term spanning five years, said PSX release here on Thursday.

Starting on January 1, 2022, Deutsche Börse will be the sole licensor of PSX stock market data for international customers. This data cooperation agreement is a significant step ahead for PSX which will allow Pakistan Stock Exchange to extend its market data reach globally. With this agreement, Pakistan Stock Exchange will increase its global footprint, with the aim of leveraging Deutsche Börse’s international reach to significantly expand its market data client base and attract foreign investors to participate in PSX’s markets.

PSX’s Managing Director, Farrukh H. Khan said that PSX broader vision was to increase market participation by supporting easy and equitable access to high-quality information. With the growing sophistication of our market, partnerships with global exchange networks and data vendors extend our international presence.

PSX’s Chief Operating Officer Nadir Rahman said that in the coming months, PSX was going to implement new technologies that would 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, he said.

Alireza Dorfard, Head of Market Data + Services at Deutsche Börse, said that with this partnership, the company was providing clients with an additional market data offering in a growing market.

“ At the same time, we are reducing their administrative requirements and increasing overall efficiency,” he added.

Pakistan Stock Exchange in recent years had introduced various innovative financial products designed to cater the needs of a growing appetite among international investors looking to get exposure in an exciting emerging economy which offered considerable value.

PSX’s range of data products would be accessible to international clients facilitated by this agreement with Deutsche Börse. The market data offering includes real-time, delayed as well as end of day data, he said.