The Exchange originally scheduled the launch of the XTS platform on June 1.
The postponement was made to accommodate the Securities and Exchange Commission’s (SEC) need to further test the XTS system.
“While we are eager to use the new trading engine, we have to push back our [starting] date to give way to the additional test requirements of the SEC. We are confident that we will get the Commission’s go signal very soon so we can proceed with the much awaited transition to XTS,” said PSE President and CEO Hans B. Sicat.
The deferment will not affect the regular trading schedule of the PSE.
The new trading system will have Nasdaq OMX as the provider, and was built using its X-stream trading technology.
NASDAQ OMX is the creator of the world’s first electronic stock market and its technology powers more than 80 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions.
The Exchange said it will announce the new launch date once it receives confirmation from the SEC. – Rappler.com