MANILA – The Philippine Stock Exchange (PSE) is set to test its new trading system this month to ensure a smooth transition to the updated system.
The new trading system, PSEtrade XTS, was provided by NASDAQ (National Association of Securities Dealers Automated Quotations) to replace PSE’s current trading engine in May.
The PSE said the first market rehearsal will be held late March. The market rehearsal on March will be the first of many cycles that will be conducted and will also cover testing for the disaster recovery site.
Regular broker training on the new terminal has been ongoing since November 2014 to ensure that all users will be ready to participate in the testing.
The PSE also started its Broker System Certification on January 6. It is working with the users of the trading system towards attaining a 100 percent certification rate.
A weekly update session is also being conducted for brokers with their own trading execution platforms to provide them with the avenue to ask questions and to report on development milestones.
“We are pleased that the preparations for the new trading system are moving as scheduled. We are grateful for the support extended to our team by the broker community and the data vendors to make sure that all goes well,” said PSE president and chief executive Hans Sicat.
“We are optimistic that the first as well as the succeeding tests will be successful and that everything will proceed in time for our target launch in May,” he added.