MANILA, PHILIPPINES – The Philippine Stock Exchange, Inc (PSE) announced that starting June 1, it will replace the PSEtrade platform provided by NYSE Euronext Technologies SAS with the new trading engine developed by NASDAQ, the PSEtrade XTS.
“The shift to XTS is one of our major projects in our strategic plan. This upgrade brings us closer to our technology goals for the Exchange,” PSE President and CEO Hans B. Sicat said.
The launch date was set following a series of market rehearsals that have been conducted since March.
The PSE will hold one more market rehearsal on May 23 to provide market participants more opportunities to get used to the system before its launch.
PSEtrade XTS is prepared to handle more volumes and trades even as the local stock market has seen the number trades increase almost five-fold from 2010.
The new system also provides for same-day recovery in case the disaster recovery site is utilized. It is also capable of facilitating new products and services that are being planned to be rolled-out by the exchange.
“The market testing we conducted the last few weeks provided our market participants the opportunity to test the features and functions of the PSEtrade XTS in a simulated trading session. We look forward to a smooth and seamless transition to the new system,” Mr. Sicat added.
In July 2014, the PSE announced that it will use NASDAQ’s X-stream Trading technology to power its new trading engine.
NASDAQ’s exchange technology operates in over 100 market places across USA, Europe, Asia, Australia, Africa, and the Middle East. NASDAQ’s trading technology is also used by ASEAN Exchanges like Bursa Malaysia, Singapore Exchange, and the Indonesia Stock Exchange. – BusinessNewsAsia.com