THE Philippine Stock Exchange Inc. (PSE) said Thursday that its new trading system - the PSEtrade XTS, will be launched on June 22 following its receipt of the Securities and Exchange Commission's (SEC) approval of its rollout.
"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 July 2014, the PSE announced that it will use NASDAQ’s X-stream Trading technology to power its new trading engine. NASDAQ’s exchange technology operates in over 100 market places across USA, Europe, Asia, Australia, Africa, and the Middle East. NASDAQ’s trading technology is also used by Asean Exchanges like Bursa Malaysia, Singapore Exchange, and the Indonesia Stock Exchange.
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.
“We again send our gratitude to all the market participants and stakeholders who joined our testing and rehearsals and provided their support to this major undertaking of the Exchange,” Sicat added.
PSE initially announced to start the new system on June 1, but this did not push through. (SDR/Sunnex)