(Last Updated On: September 15, 2022)
GCash a subsidiary of Globe Telecom listed firm, Ayala group of companies and Ant Group of Alibaba, will soon offer its platform for PSE stock market investing as it is preparing its network to be able to be tradable by this coming November.
PSE President and CEO Ramon Monzon interview with One News PH and Businessworld Live stated that PSE has partnered with the big payment platform “GCASH”.
GCASH and PSE partnership will be making stock trading available to its 67Million subscribers. PSE had already agreed on the commercial terms last Friday and currently they are doing together the technical integration. Soon GCash users will be able to directly trade or invest in the PSE stock market.
PSE is also considering buying and selling of fractional shares, much like CFD trading in international markets. We all know that some board lots or prices of stocks are on the high side.
The first phase of the agreement where anyone with Gcash account can trade in the PSE market will be handled by AB Capital as a broker in conjunction with Gcash and PSE. President Ramon Monzon have stated that by November Gcash users will then be able to execute trading.
“The Philippine Stock Exchange was organized in 1927. So, you’re talking about 95 years and we only have 1.7 million stock market investors”.
Its about time that majority of Philippine investors can gain access to the market. GCash projects more than 9 Million investors in 5 years time will take this opportunity. This will be a game changer in terms of the numbers of retail investors that can participate in the market.