Technical glitch suspends trading; peso weakens vs USD

Trading in the local bourse was canceled Tuesday due to technical issues while the peso weakened against the US dollar.

In a memorandum on its website, Philippine Stock Exchange, Inc. (PSE) president and chief executive officer Ramon Monzon said there were “technical problems encountered in establishing connection between the NASDAQ trading engine and the Flextrade front-end system.”

“PSE continues to work and coordinate closely with representatives of NASDAQ and Flextrade to identify the underlying cause of the above-described production issue and come up with appropriate solution,” he added.

The peso depreciated against the greenback after closing the day’s trade at 51.3 from the previous session’s 51.00.

It opened the day at 51.1 and traded between 51.3 and 51.1. Average level for the day stood at 51.246.

Volume totaled to USD1.22 billion, more than double the USD588.7 million the previous day.

Source: Philippines News Agency

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