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The Philippine Stock Exchange, Inc. (PSE) and Nasdaq (Nasdaq:NDAQ) announced today that PSE had a successful migration to the PSEtrade XTS trading system, powered by Nasdaq's X-stream Trading technology.
PSE President and CEO Hans B. Sicat said, "We are pleased with the outcome of the first day of trading under the PSEtrade XTS. The shift to this trading engine is a milestone for the Exchange especially as we work on fortifying our technology platforms in line with our vision to be a premiere exchange with world-class standards. We know that with Nasdaq's technology expertise and experience, the PSE is assured of long-term support."
Nasdaq President Adena Friedman said, "We are thrilled to see the successful go-live of PSE's new trading system. The Philippines is an important, growing market for Nasdaq, one that demands robust, scalable technology to meet international standards and attract both regional and overseas capital. We are honored to support PSE's goals and future development."
The XTS trading system is equipped to handle big trading volumes and is capable of supporting the requirements of the PSE moving forward, including products and services that it plans to launch. It also has risk management features including same-day recovery in case the disaster recovery site is utilized.
On launch date, the PSEtrade XTS Project Team composed of the Market Operations and Technology Divisions of the Exchange and Nasdaq executives extended full support to the traders on the Ayala and Tektite trading floors.
The PSE is only one of two exchanges globally, among bourses that are members of the World Federation of Exchanges, to post six consecutive years of gains, from 2009 to 2014.
