PSE Proposes Enhancements To Trading Rules
“Our migration to the NASDAQ X-Stream trading engine has given us an opportunity to benchmark our rules against global practices. We are not introducing major changes considering the adjustments that the stakeholders will have to undertake as we move to PSETrade XTS. We believe, however, that we now have this chance to introduce some items in line with our overall goal of adopting best practices in trading,” said PSE President and CEO Hans B. Sicat.
Among the proposed changes include enhancements to risk-related parameters pertaining to managing error accounts and instituting controls in preparation for the introduction of new order types such as market orders.
“The target is to have the rules in place in time for the implementation of PSETrade XTS in May next year. The preparations are progressing following our roll-out schedule and we remain confident on meeting our target launch date,” Mr. Sicat added.
After the comment period, the PSE shall be consolidating any changes that may be made and shall submit them to the Securities and Exchange Commission for their regulatory approval.