Philippine Stock Exchange
| Philippine Stock Exchange | |
|---|---|
| Type | Stock exchange |
| Location | Makati City, Philippines |
| Coordinates | 14°33′22″N 121°1′22″E / 14.55611°N 121.02278°E |
| Founded | December 23, 1992 |
| Owner | The Philippine Stock Exchange, Inc. |
| Key people | Hans B. Sicat, Chairman |
| Currency | ₱ |
| No. of listings | 248 (2009) |
| MarketCap | $130 billion USD (2009) |
| Website | www.pse.com.ph |
The Philippine Stock Exchange (Filipino: Pamilihang Sapi ng Pilipinas) (PSE: PSE) is the one of the two stock exchange companies in the in the Philippines,the other being, Philippine Dealing Exchange (PDEx). 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 in Makati City's Central Business District and one at its headquarters in Pasig City. It is presently composed of a 15-man board, chaired by Mr. Hans Sicat, one of three independent Board members.
The main index for PSE is the PSE Composite Index or PSEi, which is composed of thirty (30) listed companies. The selection of companies in the PSEi is based on a specific set of criteria. The PSEi reached an all-time high of 3,873.50 points at the close of trading on October 8, 2007.
Aside from the PSEi, the PSE also publishes a broader All Shares Index, and six sector indices, namely:
• PSE Financials Index
• PSE Holding Firms Index
• PSE Industrial Index
• PSE Mining and Oil Index
• PSE Property Index
• PSE Services Index
Trading in the PSE is a continuous session from 9:30 am to 12:10 pm daily.
Contents |
[edit] History
The Philippine Stock Exchange was formed from the country’s two former stock exchanges, the Manila Stock Exchange (MSE), established on August 8, 1927, and the Makati Stock Exchange (MkSE), which was established on May 27, 1963.
Although both the MSE and the MkSE traded the same stocks of the same companies, the bourses were separate stock exchanges for nearly 30 years until December 23, 1992, when both exchanges were unified to become the present-day Philippine Stock Exchange.
In June 1998, the Philippine Securities and Exchange Commission granted the PSE a "Self-Regulatory Organization" (SRO) status, which meant that the bourse can implement its own rules and establish penalties on erring trading participants (TPs) and listed companies.
In 2001, one year after the enactment of the Securities Regulation Code, the PSE was transformed from a non-profit, non-stock, member-governed organization into a shareholder-based, revenue-earning corporation headed by a president and a board of directors. The PSE eventually listed its shares on the exchange (traded under the ticker symbol PSE) by way of introduction on December 15, 2003.
[edit] Business
On January 4, 1993, the former Manila Stock Exchange started the computerization of its operations using the Stratus Trading System (STS) with a company called Equicom. Later that year, on June 15, the former Makati Stock Exchange adopted the MakTrade trading system. Both systems were linked on March 25, 1994 to produce a One Price-One Market exchange.
Two years later, on November 13, 1995, the implementation of the Unified Trading System (UTS) allowed the use of a single-order-book system on a MakTrade software where all the orders are posted and matched in one computer.
In October 2004, the Securities Clearing Corporation of the Philippines (SCCP), a clearing and settlement agency for depository eligible trades, became a wholly-owned subsidiary of PSE.
The SCCP acts as the settlement coordinator and risk manager for broker transactions as well as administrator of the trade guaranty fund.
Companies are listed on the PSE under the First Board, Second Board or the Small and Medium Enterprises Board. To help the investing public keep track faster of industry performance, listed companies are classified into the following six sectors: Financial, Industrial, Holding Firms, Property, Services, and Mining and Oil.
In 2005, the PSE adopted an online daily disclosure system (ODiSy) to improve the transparency of listed companies and ensure full, fair, timely and accurate disclosure of material information from all listed companies. The ODiSy provides 24/7 online system access for the submission of all types of disclosures.
As of 31 December 2009, the Philippine Stock Exchange had 248 listed companies with a total market capitalization of US$130 billion. There are 184 trading participants registered at the PSE, of which 132 are active.
[edit] Levels
- Listed companies: 248 (2009)
- Brokerage houses: 184, of which 132 are active
[edit] Components
The PSE has eight indices based on a company's main source of revenue. They are namely:
- PSE All Shares Index (ALL)
- PSE Composite Index (PSEi)
- PSE Financials Index (FIN)
- PSE Holding Firms Index (HDG)
- PSE Industrial Index (IND)
- PSE Mining and Oil Index (M-O)
- PSE Property Index (PRO)
- PSE Services Index (SVC)