PSE EASy adds online banking banking feature

Investors can now purchase initial public offerings (IPO) and follow-on offer (FOO) shares through online banking, as part of the new features of the Philippine Stock Exchange's (PSE) Electronic Allocation System (PSE EASy).

According to PSE president and chief executive officer Ramon Monzon, PSE EASy has been developed to include an integrated electronic payment system aimed at encouraging more local small investors (LSIs) to enter the market.

“The ease offered by electronic payment within the platform will hopefully encourage more LSIs to use PSE EASy to buy shares when there are public offerings,” he said in a statement.

“PSE aims to provide a better experience across its technology platforms. I hope the enhancements introduced in PSE EASy will make IPO and FOO subscriptions more accessible and efficient for investors,” he added.

Investors can only choose to make over-the-counter bank payments if they prefer this method.

The PSE said its EASy platform also allows modifications to the payment method and subscription, allowing LSIs to add, reduce, or cancel the subscribed shares, provided that the subscription has yet to be paid.

The platform was launched in June 2019 to replace the manual subscription process for LSIs, who previously had to physically proceed to PSE offices and select areas in Metro Manila.

It is currently available in 44 countries, seven overseas territories, and 80 Philippine provinces.

The local stock market faced “challenging conditions” in 2023, with the local barometer plunging to levels lower than expected due to risk factors such as inflation and policy rate increases.

The benchmark PSEi closed Wednesday down by 96.61 points or 1.39% to 6,863.82, while the broader All Shares index lost 37.33 points or 1.03% to 3,589.38. — VBL, GMA Integrated News