Introduction of NYSE Euronext’s NSC V900 trading platform represents a major milestone in plans to meet the growing overseas investment demand
The Philippines, New York, September 28, 2010 ─ The Philippine Stock Exchange (PSE) and NYSE Technologies, the commercial technology division of NYSE Euronext, today jointly announced the successful migration of the PSE to NYSE Technologies’ NSC V900 trading platform. The new innovative trading infrastructure will enhance PSE’s product range, trading performance and volume capacity.
“In today’s increasingly competitive exchange industry, cutting-edge and high performance technology is a key differentiator for continued volume growth and product innovation,” said PSE President and Chief Executive Officer Val Antonio B. Suarez. “The migration of PSE to the NSC V900 trading system complements our business strategy to further increase liquidity in our capital markets and introduce new investment products.”
With the launch of NSC V900 on July 26, 2010, the PSE is now able to handle larger trading volume and process trades 10 times faster than the previous system.
“The launch of the NSC V900 trading platform is a major milestone project for PSE,” said Peter Tierney, Managing Director of NYSE Technologies in the Asian Region. “We were extremely pleased to be selected as the key technology partner on this project and, after 18 months of hard work on both sides, the immediate results are very encouraging.”
With NYSE Technologies’ NSC V900 trading platform, which replaces the legacy MakTrade System, investors trading on PSE markets will have direct access in the future to a wider range of cash, debt, and derivative instruments from one single platform that was not available previously. In addition to delivering exceptionally fast transaction speed and system-wide reliability, the NSC V900 trading platform will provide outstanding value to PSE customers and set new benchmarks in terms of scalability, capacity, ultra-low latency, new functionalities and resiliency.
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About the Philippine Stock Exchange:
The PSE is the country's only stock exchange with 250 listed firms and 132 active trading participants. PSE shares are also listed on the stock exchange. The PSE is one of the longest operating stock exchanges in Southeast Asia since its inception in 1927. It currently maintains two trading floors, one at its headquarters in Makati City's Central Business District and one in Pasig City. The main index for PSE is the PSE index or PSEi, which is composed of thirty (30) listed companies. Year-to-date as of September 27, the PSEi has experienced a growth rate of 35.1% to finish at 4,122.83 points, a new record high. The PSE also hit a record high daily trading value of Php 8.9 billion since the roll-out of the trading platform last July 26. Trading in the PSE is a continuous session from 9:30 am to 12:10 pm daily. For more information visit: http://www.pse.com.ph.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets – the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca – represent one-third of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euro next is in the S&P 500 index, and is the only exchange operator in the S&P 100 index and Fortune 500. For more information, please visit: http://www.nyx.com.
Cautionary Note Regarding Forward-Looking Statements
NYSE Euronext and its affiliates do not recommend or make any representation as to possible benefits from any securities or investments, or third-party products or services. Investors should undertake their own due diligence regarding their securities and investment practices. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2009 ("document de référence") filed with the French Autorité des Marchés Financiers (Filed on April 22, 2010 under No. D.10-0304), 2009 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.