The Colombo Stock Exchange (CSE) which was to go online with its Automated Trading System (ATS) upgrade with ATS Version 7 on Friday postponed it amidst some resistance from the stock brokers, CSE sources said.
“This has to be done as the hardware in our system is outdated. We cannot afford another system crash like last year," a CSE source said, adding that last year on 19 September the system went out of control and was not reflecting the actual prices of some shares after it started functioning.
He said that on Tuesday, all CEOs of broking firms met with CSE CEO, Surekha Sellahewa on the ATS upgrade. Here brokers complained that this new ATS version doesn’t have many features which are in the present version and that it’s not user friendly. “The new system is cumbersome. When placing an order the customer ID isn’t easily accessible and when cancelling orders it is difficult, unlike in the current system,” a broker told the Business Times.
The source said that the CSE plans to incorporate some of the features that the brokers suggested and is trying to upgrade within two to three weeks.