Daily TribuneThe local bourse operator said operating revenues in Q1 rose 18.5 percent to P746.81 million from P645.49 million as both the Philippine Stock Exchange and the Philippine Dealing & Exchange Corp. recorded brisk trading during the period.
The Philippine Stock Exchange Inc. (PSE) nearly doubled its first-quarter net income, posting a 49.9 percent increase to P381.71 million from P254.67 million a year ago, driven by stronger trading activity, higher revenues, and lower expenses.
The local bourse operator said Friday operating revenues rose 18.5 percent to P746.81 million from P645.49 million as both PSE and the Philippine Dealing & Exchange Corp. recorded brisk trading during the period.
Trading-related fees climbed 15.7 percent, while services fees surged 24.8 percent.
Positive momentum short-lived
“The market’s positive momentum may have been short-lived but the bullish stance during the first two months of the year helped lift our first quarter numbers,” PSE president and CEO Ramon S. Monzon said.
“Despite the persistent global and domestic headwinds, we remain committed to our strategic roadmap and continue to pursue product, technology, and sustainability initiatives that will reinforce the Exchange’s long-term resilience and competitiveness,” he added.
Revenues from depository securities also increased 5.9 percent.
Other income jumped 30.2 percent to P41.97 million from P32.23 million on foreign exchange gains and improved fair value of financial assets.
Meanwhile, total expenses and costs declined 1.3 percent to P334.79 million from P339.14 million.
Products in the pipeline
PSE said products in the pipeline include Global Philippine Depositary Receipts, derivatives, structured warrants, enhanced exchange traded fund rules, preferred share listings, and securities borrowing and lending.
The exchange is also developing a new trading engine, order management system, and disclosure platform.
