THE Philippine Stock Exchange Inc. (PSE) is launching the PSEtrade XTS today, a new trading system developed by the National Association of Securities Dealers Automated Quotations (Nasdaq) OMX.
“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,” PSE President and Chief Executive Officer Hans Sicat said in a statement.
The Securities and Exchange Commission had the new trading system’s June 1 launch deferred and asked the PSE to further test the integrity of the platform.
“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 said.
IN July 2014, the PSE announced it will replace its existing trading system with the latest trading technology from Nasdaq and started training and certifying traders, as well as conducting rehearsals for market participants and working closely with Nasdaq to ensure a successful system rollout.
The Nasdaq X-stream Trading technology is also used in more than 100 exchanges across the United States, Europe, Asia, Australia, Africa, and the Middle East.