MANILA, Philippines - The Philippine Stock Exchange rolled out its new online trading platform as it aims to boost online investments.
In a disclosure published on Monday, April 1, the bourse announced that it has successfully completed test runs for its new PSETradex online trading system, which target brokers.
"We are pleased to inform our trading participants that they can now sign up for the PSETradex which they can offer to their clients. We are excited about this new service which we believe will further expand brokers' reach to investors and boost activity in the stock market in a significant way," said PSE president and CEO Hans B. Sicat said in a statement.
"Having this system in place for the investors will allow them to enter and monitor their orders online. The system is designed to also let investors trade using their mobile phones and tablets."
PSETradex enables traders to manage stock portfolios and gather relevant market information online. The web-based system also has a mobile app version that allows investors to trade stocks through smartphones and tablets. The number of online investors in the stock market grew by 42% annually over the past 5 years.
The PSE tapped Malaysian trading solutions firm N2N Connect Berhad as a service provider. Maybank-ATR Kim Eng Securities, Inc. is in talks with the bourse to become one of the first brokerage firms to use the system. - Rappler.com