Philippine Stock Exchange bids farewell to trading floor, migrates to digital

25/06/2022 12:03:00 AM

PSE officials and traders get sentimental, as the local bourse operator closes its trading floor in BGC and embraces off-site work

PSE officials and traders get sentimental, as the local bourse operator closes its trading floor in BGC and embraces off-site work.

PSE officials and traders get sentimental, as the local bourse operator closes its trading floor in BGC and embraces off-site work

MANILA, Philippines – It’s an end of an era for the Philippine Stock Exchange (PSE), as it closed its trading floor in Bonifacio Global City in Taguig on Friday, June 24 to embrace digital.THE Philippine Stock Exchange (PSE) marks the end of an era as it closes its trading floor today, June 24, and shifts to virtual or 'floorless' trading.THE Philippine Stock Exchange (PSE) marks the end of an era as it closes its trading floor today, June 24, and shifts to virtual or 'floorless' trading.The fourth quarter 2021 deficit was $2.

Starting next week, traders will conduct activities off-site instead of their trading booths, embracing the remote setup brought about by the coronavirus pandemic.“I understand this is a sentimental moment for everyone who found comfort and security in being at a trading floor.'In a television interview, Monzon said the Covid pandemic has proven that the bourse can do away with the traditional trading floor.Decades-long friendships have been built and nurtured over the years among the trading participants and traders on this floor, and this should not, and hopefully will not, end,” PSE president and chief executive officer Ramon Monzon said during the closing ceremony.'We had 85 brokers that were trading on the floor.“The PSE may be among the few exchanges to have retained a trading floor to this day but in the end, technology finally prevailed….But during the pandemic when the time of the lease renewal came up, only 29 renewed.All good things must come to an end, but this does not mean that we should forget the past.Exports tallied $1.

After all looking back is crucial to moving forward,” he added.Philstocks Financial Inc.Philstocks Financial Inc.NEW BEGINNING.PSE president and CEO Ramon Monzon delivers a speech during the trading floor closing ceremony.'In the end, whether at the trading floor or virtual, market players are still expected to take their cues from the macroeconomic picture both local and global, as well as from corporate developments,' Tantiangco said.In 2020, the PSE closed down its trading floor, implemented a remote trading setup, and shortened trading hours due to the pandemic.TradeAsia President Grace Cerdenia believes the move to go 'floorless' will be beneficial for the stock exchange.Trading resumed physically when restrictions eased, only 29 of 86 trading participants, decided not to renew their leases.'It will aid in reducing overhead expenses in operating the main trading floor, especially for energy conservation, cleaning/maintenance, and the like.45 billion.

While the PSE shifted to “floorless trading,” bell ringing ceremonies for new listings would still be conducted in the headquarters.PSE data showed that online stock market accounts grew 23.Rizal Commercial Banking Corp.Rizal Commercial Banking Corp.8% to 1.16 million in 2021, accounting for 71.'Many stock market transactions around the world have been digital for many years already, so there is less need for physical trading floors anymore,' Ricafort said.5% of total accounts.He said the local stock exchange is adopting the best practices in the region and globally with the shift towards electronic channels, as well as the initiatives to be more integrated with other Southeast Asian stock markets in the coming years.52 billion or 17.

(READ: Pandemic entices Filipinos to trade stocks ) Majority or 74.The PSE opened on Dec.7% of total trades in 2021 were done online, accounting for 21.45 million trades amid the pandemic.Manila's trading floor was in Binondo while Makati's was in the city's central business district.Manila's trading floor was in Binondo while Makati's was in the city's central business district.The value of online trades in 2021 reached P744.49 billion, 44% higher than the P518.8, 1927 by five businessmen and was one of the oldest stock markets in Asia.15 million), miscellaneous edible preparations ($362.

27 billion in 2020.The Makati Stock Exchange was incorporated in May 1963.The trading floor in BGC opened in February 2018, unifying the two separate trading floors previously located in the Tektite building in Ortigas Center and Ayala Tower One in Makati City.Then President Fidel Ramos was instrumental in the merger of the Manila and Makati exchanges, which was one of the conditions for a loan grant from the Asian Development Bank (ADB).– Rappler.com.PSE's first home was at the Tektite Tower in Ortigas Center, Mandaluyong City.PSE's first home was at the Tektite Tower in Ortigas Center, Mandaluyong City.

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Era ends as PSE shifts to 'floorless' tradingTHE Philippine Stock Exchange (PSE) 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...

Era ends as PSE shifts to 'floorless' tradingTHE Philippine Stock Exchange (PSE) 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...

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