PSE reopens trading floor as Metro Manila shifts to GCQ

enablePagination: false
maxItemsPerPage: 10
maxPaginationLinks: 10

Metro Manila (CNN Philippines, June 1) — The Philippine Stock Exchange, Inc. (PSE) is reopening its trading floor now that Metro Manila has transitioned to general community quarantine. 

PSE President and CEO Ramon Monzon led the special bell ringing ceremony on Monday, which marked the reopening of the trading floor, while also serving as PSE’s tribute to the frontliners who have been leading the fight against COVID-19.

"We notified the Securities and Exchange Commission (SEC) of our reopening plans and they gave us the green light very quickly," Monzon said.

The PSE implemented a full offsite trading from March 19 to May 29, in compliance with the enhanced community quarantine enforced in the entire island of Luzon, a move of the national government to contain the spread of COVID-19 infections in the country. Trading was likewise suspended on March 17 and 18.

Monzon expressed gratitude to the SEC for its immediate action on the issues and concerns that the Exchange elevated to the Commission during the enhanced community quarantine.

"Although their offices were closed during this period, it was clear that it was business as usual for the SEC leadership and its staff as they continued to work from home and have their regular Commission meetings," Monzon said. "The SEC was able to respond proactively, positively and very timely on our various requests."

Meanwhile, SEC Chairman Emilio Aquino said they will lighten the regulatory requirements for issuers, brokers and other market participants, in the hope of reviving quickly the capital market.

"We will consider allowing companies planning to conduct IPOs by supplementing their audited financial statements whose age goes beyond 180 days with only reviewed interim financial statements," Aquino said on Monday. "We will extend the life of the validity of the order of registration for shelf-registration to five years from the present three years and study the practicality of doing a post-issuance review of financial statements in a follow-on offering."