PSE to move headquarters to Taguig

The Taguig City government has announced that the main headquarters of the Philippine Stock Exchange (PSE) will soon be built in Fort Bonifacio.

The PSE currently operates two trading floors in Metro Manila, one in Ayala Avenue in Makati City and the other in Ortigas Center, Pasig City.

Last year, the PSE board approved the transfer of a unified bourse. Taguig City Mayor Sigfrido Tiñga said the PSE will be housed on a 5,000-square meter property near the HSBC building and the unified bourse will begin operations by the first quarter of 2010.

This developed while the city government expressed support for the PSE and called on the business community to champion the trading industry’s cause amid economic threats posed by the ongoing recession in the United States.

The PSE held a competition, dubbed “Bull Run 2008: Takbo Para Sa Ekonomiya (Run for the Economy),” yesterday to increase public awareness of the stock market’s role in the country’s economy.

“It is high time that every Filipino becomes aware of the vital role of the trading industry in our fiscal system. The status of the US economy today is a testament of how volatile the market can be and how international and local trading can make or break one’s economy,” Tiñga said.

Already on its fourth year, the Bull Run is an annual running event organized by the PSE, in coordination with the Philippine Amateur Track and Field Association, as part of its information campaign. – Rhodina Villanueva