NEW YORK and MANILA, Philippines, Jun. 22 (Korea Bizwire) — The Philippine Stock Exchange, Inc. (PSE) and Nasdaq (Nasdaq:NDAQ) announced today that PSE had a successful migration to the PSEtrade XTS trading system, powered by Nasdaq’s X-stream Trading technology.
PSE President and CEO Hans B. Sicat said, “We are pleased with the outcome of the first day of trading under the PSEtrade XTS. The shift to this trading engine is a milestone for the Exchange especially as we work on fortifying our technology platforms in line with our vision to be a premiere exchange with world-class standards. We know that with Nasdaq’s technology expertise and experience, the PSE is assured of long-term support.”
Nasdaq President Adena Friedman said, “We are thrilled to see the successful go-live of PSE’s new trading system. The Philippines is an important, growing market for Nasdaq, one that demands robust, scalable technology to meet international standards and attract both regional and overseas capital. We are honored to support PSE’s goals and future development.”
The XTS trading system is equipped to handle big trading volumes and is capable of supporting the requirements of the PSE moving forward, including products and services that it plans to launch. It also has risk management features including same-day recovery in case the disaster recovery site is utilized.
On launch date, the PSEtrade XTS Project Team composed of the Market Operations and Technology Divisions of the Exchange and Nasdaq executives extended full support to the traders on the Ayala and Tektite trading floors.
The PSE is only one of two exchanges globally, among bourses that are members of the World Federation of Exchanges, to post six consecutive years of gains, from 2009 to 2014.
About The Philippine Stock Exchange, Inc. (PSE)
The Philippine Stock Exchange (PSE) is a self-regulatory organization that provides and ensures a fair, efficient, transparent and orderly market for the buying and selling of securities in the Philippines. It was named the Best Stock Exchange in Southeast Asia for 2013 by the Marquee Awards given by institutional investment magazine Alpha Southeast Asia. In December 2003, the PSE listed its shares by way of introduction to become the second exchange in Southeast Asia to become a publicly listed exchange. The PSE also provides clearing and settlement services through its wholly owned subsidiary, the Securities and Clearing Corporation of the Philippines. As of end-May 2015, the PSE has 132 active stockbrokers or trading participants. Securities traded at the PSE include 263 listed companies, exchange traded funds, and warrants.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of approximately $9.5 trillion and more than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com.
CONTACT: The Philippine Stock Exchange, Inc. Media Contact:
Martha H. Vinzons
NASDAQ Media Contact:
+1 (212) 231-5541 (office)
+1 (646) 581-4286 (mobile)
Source: NASDAQ OMX Group via GLOBE NEWSWIRE