The Philippine Stock Exchange has officially launched its short selling program. Stephen Howard, CEO of Pan Asia Securities Lending Association (PASLA), said in a statement: “PASLA welcomes this significant milestone in the evolution of the Philippines equity markets and their market structure.
“This is the culmination of extensive efforts on the part of the Philippine Stock Exchange (PSE), launching its securities financing solution that provides a short-selling infrastructure to market participants. It is an exciting development that will undoubtedly enhance liquidity and market efficiency.
“The association supports this next step in developing the risk management toolkit that is available for investors that also enhances price discovery. PASLA looks forward to continuing our work with the PSE to ensure that market participants are well-versed with international best practices. We believe that education and awareness are key to the successful implementation in the Philippine market.”