PSE upgrades trading platform via Nasdaq

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The Philippine Stock Exchange (PSE) is upgrading its trading platform under a renewed partnership with global tech giant Nasdaq. This is happening as PSE seeks to modernize and jolt life into the local market amid volatile conditions.

PSE, the operator of the local stock market, on Friday said it was adopting Nasdaq’s new platform called Nasdaq Eqlipse.

“PSE opted to renew its partnership with Nasdaq to ensure continuity in offering a dependable trading system that meets all our current and future requirements,” PSE president and CEO Ramon Monzon said.

Nasdaq Eqlipse is the fourth generation of the company’s marketplace platforms. Its new features include pretrade risk, advanced options pricing and index calculations, among others.

This is expected to enhance operational efficiencies and enable PSE to determine how it would utilize Nasdaq’s cloud technology.

PSE first launched an online trading platform in 2013 through brokerage firm BA Securities. During this launch, PSE’s TradeX platform had been expected to entice more investors into the equities market.

PSE later migrated to a new trading system, PSEtrade XTS, using Nasdaq’s X-stream Trading.

Apart from Nasdaq Eqlipse, the Philippines also has access to Nasdaq’s AxiomSL data and reporting platform. This helps both domestic and global financial institutions to comply with regulatory obligations.

Growing presence

“Our growing presence in the Philippines complements the country’s extraordinary development as one of the fastest-growing economies in the Asean (Association of Southeast Asian Nations) region,” said RG Manalac, Nasdaq Asia-Pacific senior vice president.

“With growth, of course, comes challenges and we are excited to be working with leading domestic and global banks in the Philippines as they continue to innovate and scale in this digital and increasingly AI (artificial intelligence)-driven age,” Manalac added.

Based in New York, Nasdaq launched the world’s first electronic stock market. Its current users include 97 percent of global banks, at least 10 of the world’s top stock exchanges as well as 35 central banks.

The PSE’s upgrade comes amid a volatile environment for equities in the Philippines due to global trade uncertainties.