Friday, June 5, 2009 | MANILA, PHILIPPINES
Today's Headlines
INVESTORS LOOKING to place their funds in fixed-income securities can turn to the Web as the Philippine Dealing Exchange Corp. (PDEx) officially launches its Internet-based trading platform today.
PDEx, which operates the central trade reporting system for the market, will be unveiling its Fixed Income Broker Internet Order System (FI-BIOS) at the Marriott Hotel in Cebu City.
The platform will enable brokers to provide investors with real-time price access and transactions.
"With the platform, brokers nationwide can react to the provincial customers in real time. Their access to the settlement process and the best price will be the same as those based in Manila," Vicente B. Castillo, PDEx chairman, said in an interview.
The move followed training for 16 Cebu-based brokers from 10 banks. Similar programs will be staged in other cities in the coming months, Mr. Castillo said.
Investor access, he added, will depend on banks' interest in sending personnel for training at PDEx.
The move is the latest in a series of PDEx initiatives following the grant of self-regulatory organization status (SRO) early last year. SRO status effectively gave it the powers to create and enforce industry regulations and standards. — Gerard S. dela Peña
http://www.bworldonline.com/BW060509/content.php?src=1&id=004
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