THE Philippine Stock Exchange marks the end of an era as it closes its trading floor today, June 24, and shifts to virtual or 'floorless' trading.PSE President Ramon Monzon issued a memorandum stating that the exchange's board of directors has decided to make the shift, 'given the technological advancements that have made a floorless trading setup efficient and responsive to the needs of the investing public.
Also, most listed companies have also gone virtual in conducting meetings/updates to investors,' Cerdenia said.Rizal Commercial Banking Corp. chief economist Michael Ricafort said the pandemic accelerated the digitalization of financial market transactions, including stock market trading, especially the shift to electronic/digital channels by market players, including the investing public.
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