BUSINESS

PSE takes part in global financial literacy program bell ringing

The Monetary Board is likely to hike rates by 25 basis points when it meets on 16 November. ‘The last inflation number that came in was worse than before; that means there’s a good chance for a hike.’

DT · Oct 7, 2023, 2:37 AM

(from left, by row): PSE Capital Markets development division head Mark Frederick Visda, PSE Issuer Regulation division head Atty. Marigel Baniqued-Garcia, PSE president and CEO Ramon Monzon, PSE General Counsel Atty. Veronica del Rosario; Securities Clearing Corporation of the Philippines COO Renee D. Rubio, PSE market operations division head Roel Villanueva and PSE finance division head Roberto Jose Jimenez. | photograph courtesy of PSE

The Philippine Stock Exchange Inc. underscored its commitment to promote investor education by taking part in the global Ring the Bell for Financial Literacy initiative, a program of the World Federation of Exchanges. Officers of the Exchange rang the closing bell in a ceremony held last Wednesday, 4 October.

The Ring the Bell for Financial Literacy program is organized by WFE in support of World Investor Week by the International Organization of Securities Commissions.

In his message during the event, PSE president and CEO Ramon Monzon acknowledged that the Exchange has a long way to go in encouraging stock market investing among Filipinos with investable income given the number of retail investor accounts. He stressed, however, that the PSE will persevere in carrying out its financial literacy endeavors.

"We are relentless when it comes to investor education because this initiative is not only aimed at potentially attracting new investors but it is also intended to inform the public about legitimate financial instruments. Unfortunately, up to this time, a lot still fall prey to investment scams. Even with repeated reminders to take a second, even a third look at too good to be true investments many still opt to entrust their hard-earned money in get-rich-quick schemes, only to realize later on that they were scammed," Monzon said.

The Exchange has a dedicated website for market education called PSE Academy (https://academy.pse.com.ph), which contains various learning materials about the stock market.

The PSE also hosts Exchange Visits for groups interested to have an on-site briefing on stock market basics.

Requests for seminars and webinars from schools and companies are also entertained by the company's Market Education Department.