PSE: Exchange traded funds, online trading system up by April
MANILA, Philippines - It's going to be a busy April for the Philippine Stock Exchange.
The PSE is expecting its first Exchange Traded Funds, with the country's top three banks vying to be the first out of the gate.
They will be rolling out their online trading system in the next four weeks as well.
"The SEC has approved the final version of the rules on ETFs, allows us to start processing the various applications for listing. Too short to happen before the end of the first quarter. But it will happen some time in April," PSE president Hans Sicat said.
Leading online brokerage COL Financial voiced some concern about the PSE's trading program late last year, and what it would do to pioneers in the space.
But Sicat says they'll just have to wait and see.
After that, the PSE will be busy with further discussions on its own status as a clearing house for equities and for the developmennt of futures linked to Philippine shares, targeted to list on the Singapore Exchange by the fourth quarter. - Report by Warren de Guzman, ANC News Now, March 19, 2013