“We are eager to shift to the XTS platform which runs on Nasdaq’s X-stream Trading technology. We are confident that this platform will aid us in our commitment to provide more services responsive to the needs of investors and other stakeholders,” said PSE President and CEO Hans B. Sicat.
In July 2014, PSE announced that it will replace its existing trading system with Nasdaq’s trading technology. Since then, the Exchange started preparing for the system change through training and certification for traders, rehearsals for all market participants, and a series of broker readiness forum.
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
PSE and Nasdaq OMX worked closely for almost a year to ensure the successful rollout of the PSEtrade XTS.
“We appreciate the commitment of Nasdaq to see this project through. We count on them to provide continuous support as we use this trading system,” Sicat added.
The rollout was originally scheduled for June 1 but was delayed to accommodate the Securities and Exchange Commission’s (SEC) need to further test the XTS system.
The exchange earlier confirmed that the switch to the new system will not entail any additional fees. – Rappler.com