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THE
Philippine Stock Exchange (PSE) is placing additional
investment of P70 million in the Philippine Dealing
System Holdings Corp. (PDS Group) as part of a strategic
program to help develop the capital market.
The PSE
and PDS Group formally announced the fresh investment
late Tuesday, shortly after top company officials signed
an agreement on the additional investment.
PSE
president Francis Lim said the additional investment
represents the bourse’s strategic thrust to develop the
local capital market.
“We in
the PSE believe that a thriving fixed-income market
provides a crucial support for the stock market’s
advance,” he said.
For his
part, PDS Group president Vicente B. Castillo said the
additional investment represents an even tighter
collaboration between the two exchanges.
“This
partnership paves the way for our collective efforts to
integrate the equity and fixed-income markets to create
a holistic capital market framework. We specifically
look forward to working in our common interests in
market governance, information technology, new product
offerings and developing the investor base. All of these
are fully expected to immediately redound to the benefit
of investors, issuers and intermediaries through wider
investment opportunities, deeper markets and heightened
liquidity,” he explained.
PDS
Group provides the infrastructure for the fixed-income
market through its three operating units. The Philippine
Dealing & Exchange Corp., or PDEx operates its
electronic trading platforms, with a year-to-date volume
of P1.21 trillion and an average daily volume of P5.7
billion.
The
Philippine Depository & Trust Corp., a company that
currently administers P1.5 trillion in assets, provides
depository, registry and custodial services for the
fixed-income and equity markets.
On the
other hand, Philippine Securities Settlement Corp.
operates the PDS Gateway that provides real-time
settlement in local and US dollar currency for
transactions of the financial markets. |
