Credit Suisse acquires trading right at local bourse

ABS-CBN News

Posted at Oct 25 2010 06:47 PM | Updated as of Oct 26 2010 02:47 AM

MANILA, Philippines - The board of directors of the Philippine Stock Exchange (PSE) has approved Credit Suisse (Hong Kong) Limited's application to acquire a trading right at the local bourse.

“The PSE welcomes the entry of Credit Suisse into the stock market which is a clear vote of confidence on the strong macroeconomic fundamentals of the country and its capital markets,” said PSE chairman Hans Sicat.

For his part, Simon Paterno, managing director and country head for Credit Suisse Philippines, said: "We look forward to playing a significant role in facilitating greater capital inflows from international investors into the Philippines' equity market."

Headquartered in Zurich, Credit Suisse is one of the world's leading financial services firms. It provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally.

Credit Suisse operates in over 50 countries, and employs approximately 49,200 people.