Business Technology, Finance Technology & Information Technology
Trading is halted due to a technical issue, and the peso is losing ground against the dollar.
Due to technical challenges, trading on the local exchange was halted on Tuesday, while the peso dropped versus the US dollar.
Ramon Monzon, president, and chief executive officer of the Philippine Stock Exchange, Inc. (PSE), claimed there were “technical challenges experienced in establishing connectivity between the NASDAQ trading engine and the Flextrade front-end system” in a memorandum on the company’s website.
“PSE continues to work closely with NASDAQ and Flextrade personnel to uncover the underlying cause of the above-described production issue and develop a suitable solution,” he added.
The peso fell against the dollar, completing the day’s trade at 51.3, down from 51.00 the previous session.
It started the day at 51.1 and fluctuated between 51.3 and 51.1 throughout the day. For the day, the average level was 51.246.
The volume reached USD1.22 billion, more than doubling the previous day’s USD588.7 million.
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