The Philippine Stock Exchange (PSE) is looking to open the access to market data for retail investors by year-end.
Ramon Monzon, PSE president, said this will be part of a technology initiative — a data analytics platform — the PSE will unveil by the fourth quarter of the year that aims to “democratize” access to market data which is currently limited to big stockbrokerage firms.
It will address retail investors’ need for market data that can aid them in their investment activities, Monzon said at the launch of PSE’s partnership with financial technology firm GCash and stockbroker AB Capital Securities Corp.
The initiative will complement the PSE’s partnership with GCash which, starting November, will allow stocks investing in GCash’s platform.
The partnership will leverage on GCash’s 66 million subscribers, some of which are also active investors through the various unit investment trust funds and mutual funds that GCash is selling in its GInvest platform. In this project, the transaction will be facilitated by stockbroker AB Capital Securities.
Monzon expressed optimism that the partnership with GCash will be a “catalyst” of growth for the PSE’s investor base which, based on opened accounts, number to 1.62 million, of which about 1.16 million are online accounts.
The 30.8 percent compounded growth of online accounts between 2016 and 2021 boosted the PSE’s investor base, he added.
Introduced in 2004, GCash became widely adopted by the public during the pandemic due to increased digitalization. Mobility restrictions gave rise to cashless transactions as consumer behavior shifted.
GCash now boasts of more than five million merchants and social sellers accepting digital money transfers or payments. Its app marketplace GLife also has over 420 merchant partners.
GCash currently records a staggering 29 million daily logins, with a peak in daily transactions at 19 million.
Operated by Mynt under Globe’s corporate venture builder 917Ventures, GCash is committed to maintaining its market leadership status by introducing innovative products to further boost consumer engagement.
It also continues to innovate and deliver novel products as it supports the Globe Group’s commitment to the United Nations Sustainable Development Goals, a set of targets that highlights the roles of infrastructure and innovation as crucial drivers of economic growth and development under SDG No. 9.
It is the only e-wallet with a full suite of financial services such as money transfers, e-commerce, savings, investment, insurance, and just recently, cash loan and “buy now, pay later” products.
