No fee hike as PSE shifts to new trading system
MANILA, Philippines – The Philippine Stock Exchange (PSE) will retain the matrix of its trading fees despite a shift to a new system in May 2015.
“While we will have a more technologically responsive trading system in place, we shall maintain the terminal fees charged to trading participants to access the exchange trading system,” said PSE president and CEO Hans Sicat.
(Check PSE’s trading fees here.)
The new trading system will be called PSEtrade XTS.
The local bourse is also assisting brokers in coordinating with telecommunication companies to lower the cost of communication lines with the required data capability to access the new trading system.
PSE’s current online trading platform was launched in August 2013. It was aimed to boost online investments, enabling traders to manage stock portfolios and gather relevant market information online.
In July 2014, PSE announced that it was engaging the services of NASDAQ as systems provider to replace the Nouveau Système de Cotation Trading System Core Products, which was launched in 2010.
The new trading system is one of the projects the PSE aims to launch this year.
PSE also urged small, medium and emerging (SME) companies to get listed in the local bourse and take advantage of the venture capital pouring into firms that fall in this category.
However, it postponed its Shariah Compliance Index project, as it would require more spending.
PSE is also maintaining its P200-billion ($4.49-billion) target for 2015, the third time the local bourse kept its capital-raising mark. – Rappler.com
$1 = P44.59
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