The Philippine Stock Exchange Inc. (PSE) reported a 19.8 percent increase in first-half net income to P608.38 million from P508.03 million a year earlier, driven by stronger operating revenues.

The local bourse operator said Friday that PSE’s operating revenues rose 9.4 percent to P1.44 billion from P1.31 billion, supported by higher trading and clearing revenues and increased depository securities account fees.

“Our first-half performance reflects a more active market, with average daily value turnover increasing by 13.5 percent to P7.72 billion from P6.80 billion a year ago,” PSE president and CEO Ramon Monzon said.

He attributed the increase in liquidity partly to the Capital Markets Efficiency Promotion Act, which cut the stock transaction tax to 0.1 percent from 0.6 percent effective 1 July 2025.

On the other hand, transaction fees increased 10.7 percent to P303.43 million, while Securities Clearing Corp. of the Philippines service fees rose 14.5 percent to P165.45 million as equity trading value climbed 14.5 percent to P926.54 billion from P809.27 billion.