MANILA,Philippines - The Philippine Stock Exchange on Monday launched an online trading platform PSETradex which it says would allow investors to "trade in a totally mobile environment."
The PSE hopes the new trading platform will boost the number of online investors in the stock market.
"We are excited about this new service which we believe will further expand brokers' reach to investors and boost activity in the stock market in a significant way," PSE president and chief executive officer Hans Sicat said.
Trading participants can now sign up for the PSETradex, which they can offer their clients.
The PSETradex is a web-based trading management system that will allow users to trade shares of stock, monitor the order status and manage the stock portfolio and gather relevant market information on their computers. It can also provide a mobile wireless application for equity trading which operates on web-based mobile phones.
"Having this system in place for the investors will allow them to enter and monitor their orders online. This system is designed to also let investors trade using their mobile phones and tablets," Sicat added.
Sicat said the PSE is in talks with Maybank-ATR KimEng Securities Inc. to be one of the first brokerage firms to avail of the PSETradex.