Trading of securities breaches P1-T mark

Trading of government securities at the Philippine Dealing and Exchange Corp. (PDEx) has surpassed the P1-trillion threshold this year for the first time, bringing the year-to-date volume to P1.003 trillion.

In 2006, total transaction volume reached P787.3 billion while in 2005, volume stood at P432.4 billion.

PDS Group president and chief executive officer Vicente B. Castillo said the latest trading results were both an achievement and a validation.

“Although getting to this point is a milestone in and of itself, what is more significant is that the numbers suggest that our markets are moving further and forward,” he said in a statement.

The PDS Group is the parent company of the PDEx and includes the Philippine Depository and Trust Corp. (PDTC) and the Philippine Securities Settlement Corp. (PSSC).

He said breaching the P1-trillion mark was achieved through marked improvements in several facets of trading activity. The most significant of which is the increased in average daily volume at 64 percent above the figure for the whole of 2006.

“We are already 27 percent higher than the total for 2006 and the year-to-date figures are even more significant,” Cesar B. Crisol, PDEx president and chief operating officer, said.

He said the record trade volumes were observed in September, coinciding with market developments in interest rate movements.

“The lengthening of the trade focus is the difference and suggest the maturity of our market,” Crisol concluded.