PSE assures no hike in fees under new trading system

MANILA, Philippines - The Philippine Stock Exchange (PSE) has assured trading participants there would be no hike in access fees for the new trading system to be launched in May.

The operator of the country’s only stock exchange said it would maintain the current fees it charges trading participants to access its trading system even as it shifts to a new trading system called PSEtrade XTS.

“While we will have a more technologically responsive trading system in place, we shall maintain the terminal fees charged to trading participants to access the exchange trading system.  We would like to support our traders in every way possible as we aim for a seamless transition to PSEtrade XTS,” PSE president and chief executive officer Hans B. Sicat said.

Aside from maintaining the current fees, the PSE said it would also keep the prevailing market data subscription rates for the equivalent market data feed that will be produced by the new trading system.

“To further help its trading participants, the PSE is assisting brokers in coordinating with telecommunication companies to lower the cost of communication lines with the required data capability to access the new trading system,” it said.

The PSE started testing its new trading system last month.

The PSEtrade XTS will power the PSE’s trading platform which currently trades equities and exchange-traded funds using the Nouveau Système de Cotation (NSC) developed by a unit of the New York Stock Exchange.

In July last year, the PSE engaged the services of Nasdaq to be the system provider of the new trading system that will replace the PSEtrade NSC that was rolled out in 2010.