PSE to reopen Taguig trading floor

THE trading f loor of the Philippine Stock Exchange Inc. in Bonifacio Global City, Taguig, will open on Monday as Metro Manila transitions to a less restrictive general community quarantine.

The floor which serves as the trading hub of more than 60 percent of stockbrokerage firms has been closed since March 19 following the lockdown measures issued by the Inter-agency Task Force (IATF) for the Management of Emerging Infectious Diseases.

“While our floorless or offsite trading from March 19 to May 29 has proven to be efficient and seamless, we decided to reopen and resume trading on the floor to convey a strong message to the investing public that things are back to ‘normal’ in the capital markets,” said PSE President and CEO Ramon S. Monzon.

“Hopefully, the optics of the reopening will contribute to the restoration of the general public’s much needed confidence in the recovery of our economy.”

Monzon noted that the brokers who were vacated from the trading floor upon the imposition of the enhanced community quarantine in Metro Manila by the IATF had to look for alternative sites where they could transfer their trading operations.

“This caused them to incur additional expenses for rental, employee board and lodging and connectivity costs. With the reopening of the trading floor, the brokers would be finally be spared from these incremental and substantial expenses,” said Monzon.

The PSE said it will observe the health and safety guidelines for the workplace prescribed by the IATF, the Department of Health, and the Department of Labor and Employment.

PSE will do temperature checks on the traders prior to entry in the floor and midway through the trading session. Traders will also be required to submit daily health declarations prior to entry.

To comply with social distancing requirements, only one trader per booth will be allowed compared to two or three traders per booth before. All persons inside the trading floor will be required to wear masks at all times and no congregation in any area within the floor will be allowed.

PSE said it also provide hand sanitizers at strategic areas on the floor and will diligently perform the disinfecting protocols.

“The above measures may be inconvenient and troublesome but we trust the traders will understand and appreciate that all these are being done to safeguard their health and well-being,” said Monzon.

The PSE will continue to observe shortened trading hours, from 9:30 a.m. to 1 p.m., until further notice.