Business
On January 4, 1993, the former Manila Stock Exchange started the computerization of its operations using the Stratus Trading System (STS) with a company called Equicom. On June 15, the former Makati Stock Exchange adopted the MakTrade trading system. Both systems were linked on March 25, 1994 to produce a One Price-One Market exchange. Two years later, on November 13, 1995, the implementation of the Unified Trading System (UTS) allowed the use of a single-order-book system on a MakTrade software where all the orders are posted and matched in one computer.
In October 2004, the Securities Clearing Corporation of the Philippines (SCCP), a clearing and settlement agency for depository eligible trades, became a wholly owned subsidiary of the PSE. The SCCP acts as the settlement coordinator and risk manager for broker transactions as well as administrator of the trade guaranty fund.
In 2005, the PSE adopted an online daily disclosure system (ODiSy) to improve the transparency of listed companies and ensure full, fair, timely and accurate disclosure of material information from all listed companies. The ODiSy provides a 24/7 online system access for the submission of all types of disclosures.
On July 26, 2010, the PSE launched its new trading system, PSEtrade, which replaced the MakTrade system. The system was acquired from the New York Stock Exchange.
On March 3, 2012, the PSE Composite hits 5,000 mark the highest record close.
Read more about this topic: Philippine Stock Exchange
Famous quotes containing the word business:
“Faces, suddenly suspended above you;
faces that you think it’s your business to love
if only you could remember their names.”
—Anne Sexton (1928–1974)
“No, I regret nothing, all I regret is having been born, dying is such a long tiresome business I always found.”
—Samuel Beckett (1906–1989)
“We are in danger ... of making our cities places where business goes on but where life, in its real sense, is lost.”
—Hubert H. Humphrey (1911–1978)