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Philippine Stock Exchange

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The Philippine Stock Exchange, Inc. ("PSE" or the "Exchange") is a private organization that provides and ensures a fair, efficient, transparent and orderly market for the buying and selling of securities.
PSE traces its roots from the country's two former bourses: the Manila Stock Exchange ("MSE") and the Makati Stock Exchange ("MkSE"). Founded in March 1927, the MSE was the first stock exchange in the Philippines and one of the oldest in Asia. Originally housed in downtown Manila, the MSE moved to Pasig City in 1992. The MkSE, on the other hand, was established in May 1963 and became the second bourse to operate in the country. It was based in Makati City, a budding business district during those days.
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The system accepts, routes, stores and automatically matches orders. After matches take place, the system stores trade records and generates notice of the transaction to the user. It also maintains market regulation and surveillance databases.The system allows, aside from main board sales, big block transactions, cross trades, and odd lot transactions. Good-Till-Canceled (GTC) orders, are also accepted on the system. GTC regular order expires on the seventh calendar date from the day of posting while GTC odd lot orders stay in the trading system indefinitely until actually canceled. Also, it allows brokers to execute transactions on the trading floor and at their offices through remote network connections.
SYSTEM ARCHITECTURE
MakTrade is simply a group of computer equipment, programs and communication media that collectively enables electronic trading. The Maktrade System has a Client-Server architecture. The main computer is known as the Central Order Book (COB) server. It is responsible for queuing and matching of all orders forwarded by the four trading hub servers. This creates a single order book for the entire PSE market. It also computes and distributes all market information such as indices and trade statistics. It also holds the master database of all orders, trades, securities and member-brokers. Primary market regulation and surveillance functions, which include opening and closing the market, halting of trading of a security, suspending a broker,

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