Just got this here:

Online trading deal inked by bourse | BusinessWorld Online Edition


Quoted: "

INVESTORS may soon be able to directly trade online after the Philippine Stock Exchange (PSE) finalized a deal with a Malaysian technology provider.

"The first trades can take place in around three months, that’s the general timeline. The system will then be available and physically rolled out to those [investors] who signed up," PSE President and CEO Hans B. Sicat told reporters in a chance interview yesterday.

The PSE, in a disclosure, said it had formally appointed N2N Global Solutions Sdn Bhd (N2N), a wholly-owned subsidiary of Malaysia-based securities trading solutions provider N2N Connect Berhad, as the solutions provider for an online trading and dealer trading terminal.

The agreement, first bared in February, would allow the PSE to run an Online Service Bureau (OSB) to service clients who want to execute and monitor their own orders.

The OSB will also serve as "a trading terminal for dealers and trading participants’ more sophisticated clients, and [provide] direct market access with [an] automated order-taking facility and algorithm for clients who want fast execution of orders," the PSE said in the disclosure.

Mr. Sicat, in a statement, said that "through [the facilities] we are acquiring from N2N, we hope to resolve some of the barriers for brokers in providing online trading to their clients."

In a separate development, he said the PSE would likely auction off its two properties in Makati and Pasig following the construction of its new Bonifacio Global City headquarters that is being built by Ayala Land, Inc.

"The PSE has already signed the MoA (memorandum of agreement) with Ayala Land, but work is still ongoing in terms of finalizing numbers. There’s an upfront cost, but we will be selling our two locations, so it won’t be too much of a cost," Mr. Sicat said in the chance interview.

The PSE Centre in Pasig City has been on the auction block since last year. The PSE Plaza in Makati City is being cited as a possible office space or concert hall venue. -- F. J. G. de la Fuente "




Unsa pasabot ani? Dili na kinahanglan ug Banks as brokers? or no need na ang brokers?