Last year, the Philippine Stock Exchange (PSE) and NYSE Euronext Technology SAS (NYXT) have formally signed the license, implementation and maintenance agreement of the Exchange’s New Trading System (NTS). The NSC® will replace PSE’s current trading system called the Maktrade System.
I had the chance to undergo training for the use of the broker application of the new trading system even if I’m not a stock broker. Called “PAM Workstation”, it offers new functionalities for the broker that weren’t available under the Maktrade System. For instance, the PAM Workstation allows brokers to enter “market orders”, meaning, the a buy or sell transaction can be ordered depending on the “doing price” of the market. It also has more validity types for a buy or sell transaction entered. However, it also has more limitations in terms of price that could be entered, thanks to the Static and Dynamic Thresholds. Static Thresholds pertain to the ceiling and floor price of a security, while Dynamic Thresholds pertain to the amount of difference that a transaction could be entered into vis-a-vis the last trading price.
If things will happen as scheduled, the new trading system will be used beginning December 14, 2009.
For more information, you may go to the PSE Website.
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