THE Philippine Stock Exchange (PSE) on Monday said it will conduct its first market rehearsal scheduled later this month for its new trading system, PSEtrade XTS, provided by the National Association of Securities Dealers Automated Quotations.
The PSEtrade XTS will be replacing the current trading engine of PSE in May.
“We are pleased that the preparations for the new trading system are moving as scheduled. We are grateful for the support extended to our team by the broker community and the data vendors to make sure that all goes well,” PSE President and CEO Hans Sicat said.
“To ensure that everyone will be ready to participate in the testing, the Exchange started its regular broker training on the new terminal since November last year,” the PSE said.
To date, about a quarter of the total number of trading participants have yet to finish their training. The PSE also started its Broker System Certification on January 6.
“The exchange is working with the users of the trading system toward attaining a 100-percent certification rate,” it said.
The PSE also conducts weekly update session for brokers with their own trading-execution platforms.
The session provides brokers with the avenue to ask their questions and to report on their development milestones.
The March market rehearsal will be the first of many cycles that will be conducted and shall also cover testing for the disaster recovery site.
“We are optimistic that the first, as well as the succeeding tests, will be successful and that everything will proceed in time for our target launch in May,” Sicat said.
The PSE is also set to revise its trading rules to enhance risk management processes in preparation for new order types that it will introduce for its migration to new trading platform PSEtrade XTS.
The proposed changes include enhancements to risk-related areas pertaining to managing error accounts and instituting controls in preparation for the introduction of new order types, such as market orders.
VG Cabuag