The Banker | Market Recap: PSE floorless trading.

Philippine Stock Exchange, June 24, 2022 | Located at 5th Street corner 28th Avenue in Bonifacio Global City closed down its Trading Floor and shifting to digital embracing "off-site" work.

Transferred last 2018 from Makati, the building in BGC has an external ticker board on its external that displays real-time stock prices and market data.

“I understand this is a sentimental moment for everyone who found comfort and security in being at a trading floor. Decades-long friendships have been built and nurtured over the years among the trading participants and traders on this floor, and this should not, and hopefully will not, end,”?

“The PSE may be among the few exchanges to have retained a trading floor to this day but in the end, technology finally prevailed…. All good things must come to an end, but this does not mean that we should forget the past. After all looking back is crucial to moving forward,” -Ramon Monzon, PSE CEO and President.

Out of 85 brokers trading on the floor, only 29 renewed their lease.

During the pandemic, PSE implemented a remote trading arrangement, and shortened trading hours.

New listings would still be conducted in the headquarters.

PSE data showed that online stock market accounts rose 23.8% to 1.16 million in 2021, accounting for 71.5% of total accounts.?

Online trades in 2021 rose to P744.49 billion, 44% higher than the P518.27 billion in 2020.

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Carlos Payumo Garcia?|?Land Lord?|?Investment Banker?|?Capital Markets Professional?|?Real Estate Salesperson?| Lead Guitarist | Husband | Baptist

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