PSE: Trading halt due to issues connecting, sending orders to system

The Philippine Stock Exchange Inc. (PSE) on Friday attributed the recent two-hour trading halt on the local bourse to issues encountered by multiple traders with its online system.

In a statement, the PSE said the technical problem encountered "was the inability of at least one-third of the trading participants (TPs) to connect to PSE's front-end order management system (FEOMS) and for some of these TPs, the inability to send orders to the trading system."

The FEOMS sends buy and sell orders for processing to the trading system, according to the stock market operator.

"The underlying cause of the aforementioned problem was in relation to the mobile trading application and its process of authenticating all accounts, including the inactive ones that have not accessed their accounts or registered any trading activity," it said.

The PSE added that the problem happened in one of the four silos in the FEOMS, which experienced stalled processes given the iterative authentication steps.

"The Exchange and the FEOMS developer have implemented a design optimization on the mobile trading application and are diligently working on further enhancements for deployment to prevent a recurrence of the issue," it said.

Trading was suspended last Wednesday from 9:32 a.m. to 11:55 a.m. The PSE previously blamed the incident on a "technical issue."

"PSE remains steadfast in its commitment to engage with all stakeholders and service providers towards continuously improving and future-proofing its products, systems, and services for the investing public," it said. — VDV, GMA Integrated News