PSE to ditch NYSE Euronext for NASDAQ OMX as new trading platform 

The Philippine Stock Exchange Inc. (PSE) will start operating its trading platform with NASDAQ OMX's technology by mid-2015, saying the exchange needs to ensure providing the "best and most responsive technology" to its stakeholders.

 

In an e-mailed statement Tuesday, PSE said the widely used X-stream Trading will replace the current PSEtrade system, which was bought from NYSE Euronext Technology SAS in 2010, and is expected to go live in mid-2015. 

 

“As the operator of the stock market, we need to ensure that we continue to provide the best and most responsive technology for all our stakeholders and we believe the solution provided by NASDAQ OMX is consistent with this objective,” PSE president and CEO Hans Sicat said.

 

NASDAQ's senior vice president for Market Technology Lars Ottersgård said the company is dedicated to support PSE in expanding the business to better serve the market participants in the region.

 

“The Philippines continues to be an important market in ASEAN, as well as an attractive prospect for regional and international capital – PSE is the heart of its country’s market," he said.

 

NASDAQ OMX’s exchange technology – trading, clearing, CSD and market surveillance system – is used by over 100 marketplaces across the US, Europe, Asia, Australia, Africa and Middle East. – Danessa O. Rivera/VS,GMA News