PSE file photo
MANILA, Philippines — The Philippine Stock Exchange (PSE) canceled trading Tuesday due to “technical problems.”
In a memorandum, PSE president and CEO Ramon Monzon said technical problems were encountered in establishing the connection between the NASDAQ trading engine and the Flextrade front-end system.
Among the 125 trading participants of the PSE, 43 were unable to connect to the PSE’s trading engine, Monzon said in a separate memorandum issued earlier in the day.
According to PSE rules, trading in the market may be halted “if at least one-third (1/3) of the trading participant-users cannot access the trading system.”
“PSE continues to work and coordinate closely with representatives of NASDAQ and Flextrade to identify the underlying cause of the above-described production issue and come up with the appropriate solution,” Monzon said.
“We are sorry about this unfortunate incident and we are exerting all efforts to resolve the problem,” he added.