The Philippine Stock Exchange (PSE) was named the best stock exchange in Southeast Asia by Alpha Southeast Asia, the only institutional investment magazine focused on the region.
Specifically, the PSE was given the Marquee Award for being the Best Stock Exchange in Southeast Asia in the 7th Annual Alpha Southeast Asia Best Solution and Deal Awards for 2013.
The award cited the record-breaking year of the Philippine stock market despite the volatility of the equities markets worldwide.
Some of the achievements mentioned by the magazine were the Philippine Stock Exchange index’s (PSEi) breaching the 7,000-point mark; the remarkable growth of trading activity; and the significant capital raising activity during the year.
“The performance of the equity market irrefutably underscores how the Philippines’ equity market has been partially insulated from global volatility, as it is dominated not only by local investors and a large domestic pension fund system, but also foreign investors who now strongly believe in the investment fundamentals of the Philippines,” according to a fund manager who was part of the panel of the in-house judges for the Marquee Awards at Alpha Southeast Asia.
For 2013, the PSEi breached the 6,000- and 7,000-point marks, and recorded its highest level in history of 7,392.20 points in May 2013. The PSE was also able to launch the country’s first exchange traded funds, the Shariah program for local stocks and a Philippine-based index futures in Singapore.
The PSE also introduced PSETradex, its own online trading platform that brokers can use to offer online trading services to their clients. It is also preparing to launch its new and enhanced online corporate disclosure system called PSE EDGE.
The PSE’s corporate governance programs were also highlighted by the organizers in conferring the award to the local bourse.
“We will remain committed to our plan to become a premiere exchange in the region by expanding our product and service offerings while adopting best practices to further our corporate governance standards in the market,” said Hans Sicat, PSE president and chief executive officer.
Alpha Southeast Asia is an institutional investment magazine dedicated to covering the Southeast Asian region. The Marquee Awards is now on its seventh year of recognizing the best and most innovative corporate investments deals and banking solutions in the region. It is also on its fifth year of giving recognition for the Best Stock Exchange in Southeast Asia.
The awarding ceremony is scheduled on January 23, 2014, at the Hilton Kuala Lumpur Hotel.
Previous winners of the Best Stock Exchange in Southeast Asia category were the Stock Exchange of Thailand (2012) and the Indonesia Stock Exchange (2009 to 2011).