Search

Philippines' stock exchange cancels trading on technical glitch - Reuters

sutitong.blogspot.com
  • Technical glitch yet to be resolved
  • Philippine shares pressured by surge in COVID-19 cases

MANILA, Jan 4 (Reuters) - The Philippine Stock Exchange (PSE.PS) on Tuesday cancelled trading because of a technical glitch at the start of the session.

The stock exchange operator said in an advisory that 43 of 125 brokerage firms registered with it could not connect to the bourse's trading engine. (https://bit.ly/3pSPZIi)

Under the bourse operator's rules, it can halt trading if a third of brokerage firms cannot access the system.

Register now for FREE unlimited access to Reuters.com

The Philippines' broader index (.PSI) fell 1.4% on Monday, marking the bourse's worst opening since 2016, weighed down by rising COVID-19 infections that has prompted the government to tighten curbs.

There were technical problems in establishing connection between the NASDAQ trading engine and the Flextrade front-end system, the PSE said, adding that it is working with relevant parties to identify the cause of the glitch. It did not give a timeline when the issue will be resolved.

NASDAQ did not immediately respond to a request for comment.

"We don't know when the glitch will be fixed since we're all in the same boat here, just waiting for more updates," Corenne Agravio, senior equity analyst at Regina Capital Development Corp in Manila, told Reuters.

"There could be a knee-jerk negative reaction as investors rush to unload shares amid the surge in COVID-19 cases, but that won't be a reflection of the bourse's technical issues."

Register now for FREE unlimited access to Reuters.com

Reporting by Neil Jerome Morales Editing by Ed Davies; Editing by Sanjeev Miglani

Our Standards: The Thomson Reuters Trust Principles.

Adblock test (Why?)



"exchange" - Google News
January 04, 2022 at 02:38PM
https://ift.tt/3F51YqB

Philippines' stock exchange cancels trading on technical glitch - Reuters
"exchange" - Google News
https://ift.tt/3c55nbe
https://ift.tt/3b2gZKy
Exchange

Bagikan Berita Ini

0 Response to "Philippines' stock exchange cancels trading on technical glitch - Reuters"

Post a Comment

Powered by Blogger.