Tehran,Dec.29(SENA) - The managing director of Securities Information Dissemination and Services Company (SIDSCO) is of the opinion that international economy and finance extensively hinge on development of new digital technologies and capital market is no exception to that general rule.Thus, provision and employment of new software programs is of grave importance to catch up with the fast pace of technological advances.

According to the Securities and Exchange News Agency report, Yaser Fallah in his remarks delivered on the occasion of  second round of algorithmic trading competitions in Tehran asserted: Information technology is advancing so fast and it is a duty upon our shoulder to design and develop new software or applications in order to make the capital market compatible with technological implications of our times.

In order to do so, we in SIDSO are holding second round of algorithmic trading competitions from  January  18th to   February  19th 2020 in Tehran. The main objective will be to encourage transmission from traditional trading system to more advanced and sophisticated  trading  methods via encouraging the application of algorithmic trading applications, he added.

"Application of algorithmic trading software provides an environment devoid of human errors for trading financial instruments in which pricing is more transparent ,rumors can not affect the market and speculation is highly improbable to occur. Those characteristic are quite appealing for IT scholars and also those traders who prefer analytical analyses over trial and error approach."SENA quoted Fallah as saying.

It is noteworthy , in Iran's algorithmic trading competitions , experts organized in various teams take  part in competitions set up by Iranian Securities and Exchange Organization to determine which one has the best performance in employment of algorithmic trading systems in Iranian capital market and amass more profits out of trading stocks within a designated period of time.


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