Annual Report 2012 - Lahore Stock Exchange

Technology Services DivisionThe Technology Services Division (TSD) continued to provide software, hardware and networking support to theExchange and its stakeholders during the period under review. The plan to convert the TSD into an independentbusiness unit of the Exchange was revised to a more gradual transition plan spanning three years in order to ensure asmoother transition. As part of the first phase, all IT operations that encompass the on-going support andmaintenance of the LSE IT infrastructure shall be separated out in FY 2012-13 as a separate department reporting tothe LSE Operations Division. The following year, all software development operations shall be separated within theExchange as an independent business unit, and finally in FY 2014-15, this business unit shall be spun-off as anindependent software development company focused on providing cutting edge software and consulting solutionsto the local and global capital markets.During the period under review, all departments of the TSD – Software Development, IT Operations and ITAdministration and Security continued to operate under the same umbrella. The creation of previously plannedBusiness Development department was postponed to FY 2012-13 due to budget constraints and impendingdemutualization of the Exchange.The vision, mission and core values of the Technology Services Division remain unchanged:Vision"To position LSE Technology Services Division as aworld-class provider of innovative technology solutions tothe global capital markets ecosystem."Mission“To remain at the fore-front of technological evolutionand continue to offer innovative technology products andservices that help our customers differentiate themselvesand succeed, while at the same time offering ouremployees unparalleled opportunities to growprofessionally."Core ValuesInnovationQualityIntegrityValue StatementWe shall strive to remain at the cutting edge, but not the bleeding edge, of technologicaladvancements in the industry in order to continue to serve the bottom line and thecustomers of the ExchangeBy developing processes and nurturing an environment where quality is paramount, we shallserve our stakeholders with products and services in which we take personal prideWe shall continue to strive to honor our commitments and conduct all activities as per thehighest standards of personal and professional ethics and integrityCommunication We shall place utmost importance on frank, honest and direct communication andknowledge sharing within the division as well as with our peers in the organization and ourcustomers outside the organization as appropriateRespectWe shall show respect for the professional responsibilities, perspectives and opinions of allwith whom we interact within and outside the division and LSEEfficiencyWe shall be responsive to our customers and perform all duties and assignments with speedand efficiency to the extent that the reliability and quality of the end work product is notcompromised.64LAHORE STOCK EXCHANGE