Philippine Stocks Exchange
The Philippine Stocks Exchange is the national stocks exchange in Philippine with a market capitalization of $238 billion. The exchange was formed after two of the main stocks exchanges; the Manila Stocks Exchange and the Makati Stocks Exchange merged. The exchange uses the PSE Composite Index (PSEi) and has over 30 listed companies. Since 1993, the Philistine Stocks Exchange has been using a fully-electronic trading system for its operations known as Stratus Trading System (STS) in collaboration with the developer of the system Equicom. In 2005, the exchange also adopted an online daily disclosure system (ODiSy) that was meant to improve transparency and disclosure among the listed companies. The ODiSy platform allows unlimited online access for all type of disclosures. In 2010, the exchange acquired a new trading system called PSEtrade from the New York Stocks Exchange. However, the system was later replaced by yet another trading system called PSEtrade XTS that was acquired from NASDAQ in 2016. Philippines Stocks Exchange began allowing securities lending in 2011. Just like what many other exchanges have been encouraging, the program aims at enhancing price discovery thus generating liquidity.