Philippine Stock Exchange
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| The Philippine Stock Exchange, Inc. | |
| Headquarters | Pasig City, Phillipines |
|---|---|
| Products | securities trading |
| Web site | www.pse.com.ph/ |
The Philippine Stock Exchange, Inc. is a private organization that provides a market for the buying and selling of securities.
PSE currently maintains two trading floors, one in Makati City and another in its head office in Pasig City. Despite having two floors, PSE maintains a "one-price, one-market" exchange through its MakTrade System, a single-order-book system that tallies all orders into one computer and ensures that these orders match with the best bid/best offer regardless of which floor the orders were placed. MakTrade also enables PSE to facilitate the trading of securities in a broker-to-broker market through automatic order and trade routing and confirmation. It also keeps an eye on any irregularity in the transactions with its market regulation and surveillance databases.
In June 1998, the Securities and Exchange Commission conferred to the PSE the status of a Self-Regulatory Organization, thus allowing the PSE to implement its own rules and impose penalties on erring trading participants and listed companies.
The Philippine Central Depository, established in March 1995, provides the securities settlement system for both debt and equity instruments of the Exchange with a computerized book-entry-settlement system.
The Securities Clearing Corporation of the Philippines ("SCCP") is the clearing and settlement agency for depository eligible trades in the exchange.
Contents |
History
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The PSE traces its roots from the country's two former bourses: the Manila Stock Exchange ("MSE") and the Makati Stock Exchange ("MkSE"). Founded in March 1927, the MSE was the first stock exchange in the Philippines and one of the oldest in Asia. It was originally located in downtown Manila, but moved to Pasig City in 1992. The MkSE was established in May 1963 and became the second bourse to operate in the country. It was based in Makati City, a budding business district at the time.
The two exchanges traded the same listed issues but remained separate entities for almost thirty years. They were unified to become the PSE on December 23, 1992.
In 2001, the PSE was reorganized and transformed from a member-governed organization into a shareholder-based, revenue-generating corporation. The exchange separated its ownership and trading rights, opening the doors for new market participants. On December 15, 2003, PSE shares were listed by way of introduction.
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