THE Philippine Stock Exchange (PSE) finally removed the MarkTrade system, which has been used since 1993 and replaced it with New Trading System (NTS).
“Like any new technology system, the PSE's migration to NTS had its birth pains and glitches which were deemed minor by the NTS Project Team. The NTS project has been a work in progress for the past two years in order to meet the demands of our trading participants and the investing public. We are proud that PSE can now compete with the best exchanges around the world,” said PSE Chief Operating Officer Val Antonio Suarez.
He explained that the NTS Project Team extended its full support to the trading participants both in the Ayala and Tektite trading floors with the assistance of six members of NYSE Technologies SAS headed by its Vice President of Exchange and Solutions for Asia, Julian Ragless, and NTS Project
Director Philippe Verre.
With the transition, the PSE also advised trading participants and the public to disregard a glitch in the index values and market statistics affecting market data feed, the electronic board and the PSE website.
On the other hand, PSE stated that the Stock prices were not affected by the transition. As an interim solution, the PSE frequently sends out selected updated values via the PSE website. The updated index values and market statistics will be reflected on the PSE website after trading hours today.
The NTS application is designed to trade a wide range of cash, debt and derivative instruments not currently possible through the current trading system. The new system is also expected to exponentially improve the capacity of the PSE to handle any future sharp increase in its value turnover.
The NTS uses the NSC Trading System Core Products, the trading software product developed by NYSE Technologies SAS, the commercial technology unit of NYSE Euronext (NYX), which in turn operates the largest exchanges around the world including the New York Stock Exchange and Euronext.
The PSE is the country's only stock exchange with 250 listed firms and 132 active trading participants. (MSN/Sunnex)