The London Stock Exchange Group (LSEG) today announced the simultaneous adoption of two innovative solutions for the interbank foreign exchange (FX) market in Pakistan: Matching and Market Tracker.
Tailored to the specific needs of the Pakistani market, these launches represent a significant advance in foreign exchange trading infrastructure and supervisory capabilities in the region.
This initiative is a strategic alignment with State Bank of Pakistan’s (SBP) transformational program to move to a fully electronic trading framework. The introduction of LSEG’s Matching and Market Tracker in Pakistan marks a new era for the country’s foreign exchange market infrastructure, enhancing operational efficiency, enhancing security and ensuring regulatory compliance, thereby meeting the dynamic demands of the financial industry.
Nadim Najjar, Managing Director, Central and Eastern Europe, Middle East and Africa, LSEG said:
“We are proud to introduce Matching and Market Tracker to Pakistan. These launches are a testament to our commitment to transform the FX markets through innovative technologies and strategic partnerships. Our collaborative efforts with the State Bank of Pakistan are set to redefine the currency trading landscape in the region.”
Matching is an FX Central Limit Order Book (CLOB) venue that offers traders access to market leading liquidity and currency coverage. It is designed to be transparent, efficient and cost-effective, allowing traders to transact anonymously within their mutual boundaries.
Market Tracker is a sophisticated tool that empowers central banks to obtain details of transactions executed in FX Trading and Matching by participants within their jurisdiction and enhances their cross-border capabilities.