By Leslie D. Venzon
MANILA, June 11 (PNA) — The Philippine Stock Exchange, Inc. (PSE) will launch its much-awaited new stock market trading system – the PSEtrade XTS- on June 22.
The PSE made this announcement following its receipt of the Securities and Exchange Commission’s (SEC) approval of its rollout.
The Nasdaq-developed trading technology operates in over 100 market places across United States, Europe, Asia, Australia, Africa, and the Middle East. It is also used by ASEAN Exchanges like Bursa Malaysia, Singapore Exchange, and the Indonesia Stock Exchange.
“The PSE has been working closely with the SEC on the implementation of the new system to ensure that their requirements from a regulatory standpoint are addressed. We shall continuously provide the SEC with updates and information they need as we launch PSEtrade XTS to ensure its successful implementation,” PSE President and CEO Hans Sicat said in a statement.
Together with the launch of the NASDAQ system, the PSE shall also deploy PSETradex Expert as the front end trading terminal that will be used by brokers to enter and execute buy and sell orders in the market.
It will replace the existing trading terminal provided by NYSE Euronext Technologies SAS called the PAM Workstation. (PNA)