PSE: Trading glitch due to mobile app

MANILA, Philippines — The Philippine Stock Exchange said the technical glitch encountered last Jan. 3 was due to a problem with its mobile trading application.

The local bourse operator said in a statement late Friday that trading was halted because the mobile trading application and its process of authenticating all accounts encountered a glitch.

As a result, at least one- third of the trading participants were unable to connect to PSE’s front-end order management system (FEOMS) and some of the trading participants were unable to send orders to the trading system.

The FEOMS sends buy and sell orders for processing to the trading system.

This prompted the PSE to impose a trading halt from 9:32 a.m. to 11:55 a.m. on Jan. 3.

“The underlying cause of the aforementioned problem was in relation to the mobile trading application and its process of authenticating all accounts, including the inactive ones that have not accessed their accounts or registered any trading activity,” the PSE said.

“This happened in one of the four silos in the FEOMS, which experienced stalled processes given the iterative authentication steps,” it added.

To prevent similar incidents in the future, the PSE and the FEOMS developer “have implemented a design optimization on the mobile trading application and are diligently working on further enhancements for deployment to prevent a recurrence of the issue.”

PSE remains steadfast in its commitment to engage with all stakeholders and service providers toward continuously improving and future-proofing its products, systems, and services for the investing public, it also said.