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Philippine Stock Exchange shifts to ‘floorless trading’

MANILA (XINHUA) – The Philippine Stock Exchange (PSE) will shift to “floorless trading” as it migrates to digital trading from next Monday, the bourse said on Friday.

The PSE hosted a bell-ringing ceremony to mark its closing of the trading floor.

PSE president and chief executive officer Ramon Monzon said the local bourse’s 64-year history of having a trading floor draws to a close.

At the ceremony, Monzon announced that traders will conduct activities offsite instead of in their trading booths.

“The PSE may be among the few exchanges to have retained a trading floor to this day, but in the end, technology finally prevailed,” Monzon said.

In 2020, the PSE operated through “floorless or offsite trading” for more than two months and shortened trading hours due to the pandemic lockdowns. But trading on the floor resumed when the government eased the restrictions.