MANILA, Philippines - The Philippine Stock Exchange has started beta testing its new trading system.
The PSE said it has released the beta test environment for the PSEtrade XTS. This is the version of NASDAQ’s X-Stream platform that has already been customized to fit the specific requirements of the PSE.
"We are proceeding with the implementation of the new trading system according to schedule. We are hopeful that given the series of tests conducted in the past months, the beta testing will proceed smoothly,” said PSE President and CEO Hans B. Sicat.
The PSE is preparing for the System Certification that will kick off in January 2015. The System Certification is the process where the Exchange ensures that third-party order management systems used by the Trading Participants connecting to the PSEtrade XTS are ready with the migration and in compliance with the requirements .
Barring any subsequent customization that may be required by the PSE, the beta test environment shall already serve as the final version of the PSE trading system scheduled to be launched in May 2015.
"This early, we are seeing the cooperation of all stakeholders in this major undertaking of the Exchange. We thank everyone for the support and effort they have poured to ensure that we transition seamlessly in 2015," Sicat said.
Earlier this year, the PSE tapped NASDAQ as the system provider of the new trading system which will replace the PSEtrade NSC. The PSEtrade NSC, developed by NYSE Technologies, was introduced in 2010.