MANILA, Philippines and NEW YORK, June 30, 2014 (GLOBE NEWSWIRE) -- The Philippine Stock Exchange, Inc. (PSE) and NASDAQ OMX (Nasdaq:NDAQ), have signed an agreement for NASDAQ OMX to deliver its industry-leading trading technology, X-stream Trading, to PSE. The new system will power PSE's trading platform, which currently trades equities and ETFs. X-stream Trading, which will replace the current platform, is expected to go live in mid-2015.
"We are delighted to partner with NASDAQ OMX for this important undertaking," said Hans B. Sicat, PSE President and CEO. "As the operator of the stock market, we need to ensure that we continue to provide the best and most responsive technology for all our stakeholders and we believe the solution provided by NASDAQ OMX is consistent with this objective."
"We are dedicated to supporting PSE as they evolve and expand their business to better serve the market participants in the region," said Lars Ottersgård, Senior Vice President, Market Technology, NASDAQ OMX. "The Philippines continues to be an important market in ASEAN, as well as an attractive prospect for regional and international capital – PSE is the heart of its country's market. We look forward to working with them in reaching their business goals and delivering the most widely deployed trading technology on the market."
NASDAQ OMX's exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across USA, Europe, Asia, Australia, Africa and Middle East.
About The Philippine Stock Exchange, Inc.
The Philippine Stock Exchange is the national stock exchange of the Philippines. As of June 2014, the PSE has 260 publicly listed companies and 134 active trading participants. Trading in the PSE is from 9:30AM to 3:30PM daily with a recess from 12:00PM to 1:30PM. It currently maintains two trading floors, one at the PSE Centre (Tektite), Ortigas Center in Pasig City, and one at its principal office at the Ayala Tower One in Makati City's Central Business District.
About NASDAQ OMX
NASDAQ OMX (Nasdaq:NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 80 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than 3,200 listed companies with a market value of over $8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaqomx.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX, and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
NDAQG