MANILA, Philippines — The Philippine Stock Exchange Inc. (PSE), the operator of the country’s sole stock market, is looking to venture into the real property scene.
In a stock exchange filing, the PSE said it secured approval from the Securities and Exchange Commission for the incorporation of wholly owned PSE Realty Inc.
PSE Realty will have a capitalization of P1 billion.
The PSE said the company has “powers to own, hold for investment, develop, manage and/or maintain, among others, real property of all kinds.”
The PSE has two wholly owned subsidiaries – the Securities Clearing Corp. of the Philippines and the Capital Markets Integrity Corp.
Securities Clearing was primarily organized as a clearing and settlement agency for trades executed through the facilities of the PSE, while Capital Markets Integrity functions as the PSE’s independent audit, surveillance and compliance unit over the trading activities of brokers.
The PSE also owns 20.98 percent of the Philippine Dealing System Holdings Corp., the holding company of the country’s fixed income exchange operator.
PSE president and CEO Ramon Monzon earlier said the PSE’s priority for this year up to 2026 would be to expand its product portfolio to improve market liquidity and pursue new growth areas.
The company has expressed plans to spend another $10 million to $11 million to upgrade the bourse’s trading engine in line with its efforts to be up to par with global stock exchanges.
The PSEtrade XTS, which replaced the previous trading platform, allowed the PSE to handle large trading volumes.
It also supported expanded requirements of the PSE, including providing more products and services.