PSE to use NASDAQ technology by mid-‘15

MANILA, July 1 (PNA) — The Philippine Stock Exchange (PSE) will again change it trading platform by the middle of 2015 by adopting NASDAQ OMX technology in lieu of NSC V900 of NYSE Technologies.

In a statement Tuesday, the PSE said it will be using NASDAQ’s X-stream Trading to support its equities and equity traded funds (ETFs) operations.

The new system will be adopted about four years after the PSE migrated to the NSC V900 in July 25, 2010.

PSE president and CEO Hans B. Sicat said adoption of the new technology is an important move for them.

”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,” he said.

Relatively, the NASDAQ OMX Senior Vice President for Market Technology Lars Ottersgard said the trading and exchange technology provider is “dedicated to supporting PSE as they evolve and expand their 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. We look forward to working with them in reaching their business goals and delivering the most widely deployed trading technology on the market,” he added. (PNA)