PHL launches new online stock market disclosure system

MANILA, March 24 (PNA) — The Philippine Stock Exchange (PSE) has launched a new online disclosure system that allows stock market investors to access to news and disclosures of listed companies on their smartphones and tablets.

Through Electronic Disclosure Generation Technology (EDGE) mobile application, investors can download on IOs and Android the PSE notices, companies’ financial reports and exchange-traded fund (ETF) market data and disclosures, among others.

“We are covering 80 percent of the world smartphones… I think with this application, it will probably bring us to a level wherein we are very competitive with some of the other ASEAN (stock) exchanges,” said PSE president Hans Sicat in a press briefing.

Disclosures can be also shared through Facebook, Twitter, e-mail and short messaging system (SMS).

But even with the new online disclosure system, Sicat stressed that investors could still buy a stock from their brokers.

“The brokers are authorized to execute trade. Any online platform basically perhaps cuts out voice discussions and specific reliance on analysis of a particular individual company. You have a much company information and analysis online that will allow you to make some decisions. It is no different from the concepts that you have seen in other developed markets,” he said.

Sicat expressed optimism that the new online disclosure and reporting system would eventually increase investors’ interests in the stock market.

“Hopefully, this will bring about a culture of improved and increased transparency by our stakeholders,” he said.

Sicat said the disclosure system will complement the other initiatives of the Exchange in the area of transparency and efforts to increase retail and online investors.

The PSE developed the new system together with one of the world’s leading exchange technology provider, the Korea Exchange. (PNA)