The Market Monitor Minding the Nation's Business
The local bourse operated by Philippine Stock Exchange Inc. (PSE) was recognized as the 2016 Best Stock Exchange in Southeast Asia at the Marquee Awards of the 10th Alpha Southeast Asia Deal & Solution Awards held in Sepang, Malaysia last Jan. 25.
This is the third year that PSE received the Best Stock Exchange in Southeast Asia award from institutional investment magazine Alpha Southeast Asia in the last four years.
Aside from 2016, the PSE was conferred the same award in 2013 and 2015.
“The Best Stock Exchange in Southeast Asia award is a product of the hard work and cooperation between the PSE, its Board of Directors, management and staff, and the various stakeholders in the market. This award will surely serve to inspire us at the PSE to always strive for excellence,” said PSE President and CEO Hans Sicat.
The Marquee Awards recognized the PSE for developing new rules for the listing of Public-Private Partnership companies and issuing and trading of Dollar Denominated Securities.
“The PSE successfully developed new rules for Public and Private Partnership (PPP) laying the groundwork for companies to be listed at the PSE by anticipating their funding needs via the country’s stock market. This being one such masterstroke on the part of the exchange. Additionally, in its bid to provide a platform that provides dual currency listing and trading, the PSE has today a comprehensive set of rules for Dollar-Denominated Securities (DDS), catching up with other prominent exchanges around the world,” the award-giving body noted. The PSE’s corporate governance programs were also cited.
“At the core of the PSE’s investment revival is its commitment to its corporate governance initiatives driven from the Exchange’s Corporate Governance Office including this year the effort to better align it with global best practices including the G20-OECD Principles of Corporate Governance,” it said.
“The PSE has, therefore, spent a large part of the year continuously pushing the boundaries and is now striving to encourage world-class standards of disclosure and corporate governance among its listed companies in the Philippines,” Alpha Southeast Asia said.
“We are grateful that third party institutions like Alpha Southeast Asia recognize the initiatives of PSE,” Sicat added.