PSE cancels trading on Jan. 4 due to tech issues

ABS-CBN News

Posted at Jan 04 2022 11:04 AM | Updated as of Jan 04 2022 02:14 PM

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MANILA (UPDATE)— The Philippine Stock Exchange has canceled trading late Tuesday following a technical issue involving its trading engine.

"Please be advised that trading at PSE is cancelled today, Jan. 4, 2022 due to technical problems encountered in establishing connection between the NASDAQ trading engine and the Flextrade front-end system," the statement said. 

"The PSE continues to work and coordinate closely with representatives of NASDAQ and Flextrade to identify the underlying cause of the above-described production issue and come up with the appropriate solution," it added.

PSE's trading platform NASDAQ and frontend system FLEXTRADE are troubleshooting their respective systems "to pinpoint problem and devise solution," PSE president Ramon Monzon earlier told reporters.

He said 43 brokers were unable to connect to the system.

"Under our protocol, if 1/3 or more of the brokers are unable to connect, we have to halt trading," Monzon said. 

The bourse was supposed to open 9:30 a.m.