Philippines Stock Exchange was established in March 1927, and is the oldest stock exchange in Asia. The stock exchange promises a fair and transparent market for selling and buying securities. It is a private organization situated in downtown Manila.
Brief History of Philippines Stock Exchange
The Stock Exchange owes its origins from the Makati Stock Exchange (MkSE) and the Manila Stock Exchange (MSE). These stock exchanges bore separate trading entities. However, on 23rd December, 1992, both the Makati Stock Exchange and the Manila Stock Exchange were merged to form the Philippines Stock Exchange.
At present, there are two trading centers of the Stock Exchange, one in Pasig City and the other in Makati City. The two trading follow the same trading method of
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'one-price, one-market' through the MakTrade exchange system. This exchange system automatically allows the securities trading in a broker-to-broker market. It also keeps an eye on the irregular transactions.
The Philippines Stock Exchange Inc. attained the status of independent organization in the year 1998 by the Securities and Exchange Commission. Therefore, it has the right to formulate its own rules and regulations and fine those companies and trading participants, who are at fault.
The SSCP or the Securities Clearing Corporation of Philippines is the clearing and settlement agency, in the trading cycle. The exchange also has a website, which informs about the market data, listed companies, trading activities and so on for the convenience of the investors.
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