Philippine Stock Exchange awarded ‘Best Stock Exchange in Southeast Asia’
The Philippine Stock Exchange (PSE) has been conferred the “Marquee Award” as “Best Stock Exchange in Southeast Asia” by institutional investment magazine Alpha Southeast Asia. The PSE will receive the award in the 7th Alpha Southeast Asia Best Solution and Deal Awards on January 23, 2014, in Kuala Lumpur, Malaysia. For seven years now, Alpha Southeast Asia, headquartered in Hong Kong, has been awarding people and institutions behind the best and most innovative corporate investments and banking solutions in the region.
The award cited the PSE’s record-breaking performance in 2013: Bellwether PSE Composite Index’s (PSEi) breach of 7,000-point mark, remarkable trading growth, significant capital-raising, corporate governance initiatives, enterprise, and best practice approach to risk management. PSE pro-disclosure stance was also cited by the panel as one of the reasons for foreign investors’ ease of doing business in the country. “The performance of the equity market underscores how the Philippine equity market has been partially insulated from global volatility as it is dominated not only by local investors but also by foreign investors who believe in the investment fundamentals of the Philippines,” it said. PSEi recorded its highest level on May 10, 2013, when the stock index touched 7,262.38 points. PSEi, composed of 30 publicly traded shares, is one of the indicators on the state of the economy and of investor confidence in the country.
Acknowledging the award, PSE said that 2013 is one of the best years of the exchange from a new product offering standpoint that inspires it to push for more products and services that will attract more investors to take part in its growth in its story in the Republic of the Philippines. The award recognizes the hard work that its board and team have done to bring the exchange to new heights.
The PSE ensures fair, efficient, transparent, and orderly market for buying and selling of securities. Its two trading floors in Makati City and in Pasig City maintain a “one price-one market” exchange through the MakTrade System, a single-order-book system that tallies all orders into one computer and ensures that these orders match with the best bid/best offer regardless of which floor the orders are placed. It launched the Shariah program for local stocks and Philippine-based index futures in Singapore, and introduced its online trading platform PSETradex.
We congratulate the Philippine Stock Exchange, led by its Chairman Jose T. Pardo and President and Chief Executive Officer Hans B. Sicat, its Board of Directors, other Officers and Personnel, in their efforts in expanding product and service offerings, adopting best practices and upgrading corporate governance standards, to attract more local and foreign investors to our Republic of the Philippines. CONGRATULATIONS AND MABUHAY!
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