MANILA, Philippines - The Philippine Stock Exchange is seeking the public's comment on its proposed rules that will allow investors to directly trade on the stock market without coursing their deals through brokerages and investment banks.
Currently, investors wanting to buy stocks can only do so through a broker or that broker's online trading infrastructure.
The proposed system, called direct market access (DMA), is an automated trading facility that gives investors more control over how the trade is executed.
PSE president Hans Sicat says stock markets in Malaysia, Singapore and Hong Kong already offer such facility.
"We hope the introduction of DMA in the Philippine stock market through our trading participants will significantly boost volumes through faster execution of trades...The introduction of DMA should also complement our efforts to promote online trading thus giving investors in the local stock market several options and channels by which to participate in the growth of Philippine-listed firms," Sicat said.
The PSE earlier signed a deal with a Malaysian company N2N Global Solutions to provide software for the proposed system. - ANC