The Philippine Stock Exchange, Inc. (; ) is the national stock exchange of the Philippines. The exchange was created in 1992 from the merger of the Manila Stock Exchange and the Makati Stock Exchange. Including previous forms, the exchange has been in operation since 1927.
The Philippine Stock Exchange has 275 listed companies. The main index for PSE is the PSE Composite Index (PSEi) composed of thirty (30) listed companies. The selection of companies in the PSEi is based on a specific set of criteria. There are also six additional sector-based indices. The PSE is overseen by a 15-member board of directors, chaired by José T. Pardo.
History
On February 3, 1936, the Securities and Exchange Commission announced that it had "relinquished control of the Manila Stock Exchange."
The Philippine Stock Exchange was formed on December 23, 1995, from the merger of the Manila Stock Exchange (MSE) (established on August 12, 1927, based on Muelle de la Industria, Binondo, Manila) and the Makati Stock Exchange (MkSE) (established on May 15, 1963, based in the Makati Central Business District, within Ayala Tower One). Both exchanges traded the same stocks of the same companies.
In June 1998, the Securities and Exchange Commission (SEC) granted the PSE a "Self-Regulatory Organization" (SRO) status, which meant that the bourse can implement its own rules and establish penalties on erring trading participants (TPs) and listed companies.
In 2001, the PSE was transformed from a non-profit, non-stock, member-governed organization into a shareholder-based, revenue-earning corporation headed by a president and a board of directors and on December 15, 2003, listed its own shares on the exchange (traded under the ticker symbol PSE).
On March 28, 2022, The Philippine Stock Exchange launched the PSE Thematic Index Series, with two new indices, namely PSE Dividend Yield Index, and PSE MidCap Index.
Record values
Business
On January 4, 1993, the former Manila Stock Exchange started the computerization of its operations using the Stratus Trading System (STS) with a company called Equicom. On June 15, the former Makati Stock Exchange adopted the MakTrade trading system. Both systems were linked on March 25, 1994 to produce a One Price-One Market exchange. Two years later, on November 13, 1995, the implementation of the Unified Trading System (UTS) allowed the use of a single-order-book system on a MakTrade software where all the orders are posted and matched in one computer. They have nearly 10,000 employees.
In October 2004, the Securities Clearing Corporation of the Philippines (SCCP), a clearing and settlement agency for depository eligible trades, became a wholly owned subsidiary of the PSE. The SCCP acts as the settlement coordinator and risk manager for broker transactions as well as administrator of the trade guaranty fund.
In 2005, the PSE adopted an online daily disclosure system (ODiSy) to improve the transparency of listed companies and ensure full, fair, timely and accurate disclosure of material information from all listed companies. The ODiSy provides a 24/7 online system access for the submission of all types of disclosures.
On July 26, 2010, the PSE launched its new trading system, PSEtrade, which replaced the MakTrade system. The system was acquired from the New York Stock Exchange.
On June 22, 2015, the PSE launch its new trading system, the PSEtrade XTS, which will replace the PSEtrade system acquired from the New York Stock Exchange. The new trading system will be acquired from the NASDAQ
In 2016, The Marquee Awards of Alpha Southeast Asia magazine recognized PSE as the Best Stock Market in Southeast Asia for the year 2015. The Alpha Southeast Asia, Named PSE Again as the Best Stock Market in Southeast Asia in 2017, for 4 Times in 5 Years.
In 2019, The PSE has introduced a new index that will help track the overall returns of the main index, The Total Return Index (PSEi TRI), as part of the efforts to create a broader investor base for the market.
Record highs
On March 2, 2012, the PSE Composite hits 5,000 mark the highest record close. However, on December 12, 2012, almost ten months after, it neared the 5,800 mark closing in 6,000 near the end of the year.