One of the ASEAN Region's Fastest Growing Markets Looks to Increase Its Trading Capabilities and Offerings
The Philippine Stock Exchange, Inc. (PSE) and NASDAQ OMX (Nasdaq:NDAQ), have signed an agreement for NASDAQ OMX to deliver its industry-leading trading technology, X-stream Trading, to PSE. The new system will power PSE's trading platform, which currently trades equities and ETFs. X-stream Trading, which will replace the current platform, is expected to go live in mid-2015.
"We are delighted to partner with NASDAQ OMX for this important undertaking," said Hans B. Sicat, PSE President and CEO. "As the operator of the stock market, we need to ensure that we continue to provide the best and most responsive technology for all our stakeholders and we believe the solution provided by NASDAQ OMX is consistent with this objective."
"We are dedicated to supporting PSE as they evolve and expand their business to better serve the market participants in the region," said Lars Ottersgård, Senior Vice President, Market Technology, NASDAQ OMX. "The Philippines continues to be an important market in ASEAN, as well as an attractive prospect for regional and international capital – PSE is the heart of its country's market. We look forward to working with them in reaching their business goals and delivering the most widely deployed trading technology on the market."
NASDAQ OMX's exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across USA, Europe, Asia, Australia, Africa and Middle East.
The Philippine Stock Exchange is the national stock exchange of the Philippines. As of June 2014, the PSE has 260 publicly listed companies and 134 active trading participants. Trading in the PSE is from 9:30AM to 3:30PM daily with a recess from 12:00PM to 1:30PM. It currently maintains two trading floors, one at the PSE Centre (Tektite), Ortigas Center in Pasig City, and one at its principal office at the Ayala Tower One in Makati City's Central Business District.