PSE reopens trading floor

The Philippine Stock exchange Inc. (PSE) had a special bell ringing ceremony on Monday to mark the reopening of its trading floor. The PSE implemented a full offsite trading from March 19 to May 29 in compliance with the enhanced community quarantine (ECQ) guidelines of the Interagency Task Force (IATF) for the Management of emerging Infectious Diseases. Trading was suspended on March 17 and 18.

Aside from the trading floor’s reopening, the bell ringing also served as Pse’s tribute to frontliners who have been leading the fight against Covid-19.

In his speech during the event, PSE President and CEO Ramon S. Monzon said, “We notified the Securities and exchange Commission [SEC] of our reopening plans and they gave us the green light very quickly.”

Monzon also commended and expressed gratitude to SEC for its immediate action on the issues and concerns that the exchange elevated to the Commission during the ECQ and modified ECQ regime.

“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,” he said.

“Consequently, the SEC was able to respond proactively, positively and very timely on our various requests. Thank you very much, Chairman Aquino, for your unprecedented support and your laudable model of public service.”

For his part, SEC Chairman emilio B. Aquino said the commission will adopt a policy of collaboration and cooperation by opening its line of communication with exchange officials, broker-dealers and other market participants to revive quickly the Philippine capital market.

“I commit as your SEC Chairman to lighten the regulatory requirements for our Issuers, brokers and other market participants. 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,” said Aquino.

“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.”

NONIE REYES The Philippine Stock exchange (PSE) reopened its trading floor on Monday after more than two months of offsite trading due to lockdown measures put in place by the government to contain the spread of Covid-19. The PSE requires all persons inside the trading floor to observe health and safety guidelines for the workplace prescribed by the government, such as the wearing of face mask at all times.