SEC gives green light for new PSE trading engine

ABS-CBN News

Posted at Jun 11 2015 06:10 PM | Updated as of Jun 12 2015 02:10 AM

MANILA, Philippines - The Philippine Stock Exchange's new trading system is set to be launched this month, after getting the green light from the Securities and Exchange Commission.

In a statement, the PSE Inc. said the launch of PSEtrade XTS is slated for June 22.

"The PSE has been working closely with the SEC on the implementation of the new system to ensure that their requirements from a regulatory standpoint are addressed. We shall continuously provide the SEC with updates and information they need as we launch PSEtrade XTS to ensure its successful implementation," PSE President and CEO Hans B. Sicat said in a statement.

The new system's launch was earlier scheduled for June 1 but it was delayed after the SEC requested for more time to test a surveillance system connected to the Tradex.

The PSEtrade XTS, developed by NASDAQ, will replace the current PSEtrade platform which was provided by NYSE Euronext Technologies SAS and has been used since 2010. NASDAQ’s trading technology is also used by ASEAN Exchanges like Bursa Malaysia, Singapore Exchange, and the Indonesia Stock Exchange.

Aside from Tradex, the PSE will also deploy PSETradex Expert as the front-end trading terminal that will be used by brokers to enter and execute buy and sell orders in the market. It will replace the existing trading terminal provided by NYSE Euronext Technologies SAS called the PAM Workstation.