Philippine Stock Exchange adopts Nasdaq Eqlipse Trading
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Nasdaq Eqlipse represents Nasdaq's investments to modernize, standardize, and strengthen its platform capabilities, application architecture, APIs and product integration. The modular trading platform allows market operators to incorporate complementary functionality, including pre-trade risk, advanced options pricing, and index calculations, with a flexible deployment model to help reduce operational heavy lifting and provide optionality around cloud adoption.
'With technology as a key area in our strategic agenda, it is important for PSE to work with a trusted service provider of market technologies. Given this, PSE opted to renew its partnership with Nasdaq to ensure continuity in offering a dependable trading system that meets all our current and future requirements,' said PSE President and CEO Ramon S. Monzon.
The recently launched Nasdaq Eqlipse platform is the fourth generation of its suite of multi-asset marketplace technology platforms, marking a major milestone in the company's five-year cycle of investment to develop and gradually roll out a fully interoperable suite of proven solutions across trading, clearing, central securities depository, and data intelligence. The harmonized portfolio enhances Nasdaq's ability to form deeper strategic technology partnerships with its clients, including more than 135 infrastructure providers around the world.
"The launch of Nasdaq Eqlipse following years of investment and development to reinforce our ability to enhance liquidity, transparency and integrity across global capital markets," said Magnus Haglind, Head of Marketplace Technology at Nasdaq. "Our technology partnership with PSE will help strengthen its market infrastructure, and we're excited to support their efforts to elevate Philippine capital markets on the global stage."
Modernizing the Philippine financial services ecosystem
Nasdaq holds deep technology partnerships across the Philippines, helping to drive modernization throughout the country's financial services industry. In addition to providing market infrastructure, Nasdaq's AxiomSL data and regulatory reporting platform helps both domestic and global institutions comply with their regulatory obligations, while its Nasdaq Calypso platform helps clients simplify their capital market operations.
R.G. Manalac, Senior Vice President, Asia Pacific at Nasdaq added: 'Our growing presence in the Philippines complements the country's extraordinary development as one of the fastest growing economies in the ASEAN region. With growth of course comes challenges and we are excited to be working with leading domestic and global banks in the Philippines as they continue to innovate and scale in this digital and increasingly AI driven age. Our solutions spanning across capital markets, regulation, and risk management continue to prove critical as these firms look to expand their businesses in a scalable and efficient manner.'
Around the world, Nasdaq's technology is used by 97% of global systematically important banks, half of the world's top 25 stock exchanges, 35 central banks and regulatory authorities, and 3,800+ clients across the financial services industry. As a scaled platform partner, Nasdaq draws on deep industry experience, technology expertise, and cloud managed service experience to help financial services companies solve their toughest operational challenges while advancing industrywide modernization.
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Coin Geek
an hour ago
- Coin Geek
TRON's Nasdaq debut a dud; Ethena stablecoin coming to America
Getting your Trinity Audio player ready... TRON's Nasdaq debut was a double-digit dive, while some 'offshore' stablecoins are looking to make their own splashy U.S. debuts. On July 24, Justin Sun, founder of the TRON blockchain, rang the opening bell at the Nasdaq stock exchange. The occasion marked TRON's Nasdaq debut, following last month's reverse merger with SRM Entertainment, a struggling theme park merchandise supplier that announced it would rebrand as Tron Inc. Clad in a tuxedo, Sun—who serves as Tron Inc's 'global advisor'—delivered some remarks ahead of the bell, declaring the occasion to have been 'his dream' for 15 years. He claimed TRON's ambition to match some of the Nasdaq media/tech giants was only just beginning, but the dream proved more of a nightmare, at least, for TRON investors. SRM's shares had languished below $1 all year, threatening its ability to remain on the Nasdaq. News of the TRON deal caused SRM shares to spike above $11, but the shares lost nearly one-fifth of their value in the week before the rebrand. And despite Thursday's hype, the shares took a dive shortly after the opening bell and never really recovered, closing trading down 10.7% to $8.74. Sun/TRON are increasingly tied to President Trump and his crypto ventures. Between the WLFI token of the Trump-linked decentralized finance (DeFi) project World Liberty Financial (WLF) and the president's $TRUMP memecoin, Sun has purchased over $100 million worth of Trump-affiliated tokens, garnering him a role as a WLF advisor and a chummy relationship with the president's sons Don Jr. and Eric. Earlier this month, the team behind $TRUMP announced that the token would soon be tradable on TRON after previously being available only on the Solana network. On July 23, that dream became reality courtesy of the LayerZero omnichain interoperability protocol and the 'global liquidity layer' Stargate Finance bridging protocol. The announcement was celebrated by Sun, who tweeted, 'All roads lead to #TRON. Let's take $TRUMP global.' The news didn't exactly light a fire under $TRUMP, the value of which fell on Thursday from around $10.30 to as low as $9.60 before staging a comeback. As of late Thursday, the token struggled to stay above the $10 mark. In fairness, some of that decline can be blamed on the recent unlocking of nearly $1 billion worth of the tokens, the sale of which might have boosted the president's bottom line by nearly $100 million. USDtb coming to 'Murica Well before Trump's signing of the GENIUS Act into law last week, crypto advocates were claiming that so-called 'offshore' stablecoin issuers would do whatever they needed to do to comply with the new rules of the road in order to gain/retain access to the U.S. market. Sure enough, Thursday brought word that Ethena Labs, issuer of the USDe and USDtb stablecoins, had struck a strategic partnership with digital asset custodian Anchorage Digital to launch USDtb in America as 'the first-ever stablecoin with a clear pathway to becoming' GENIUS-compliant. The Lisbon-based Ethena will utilize Anchorage's new turnkey stable-issuing platform to issue USDtb stateside. This will enable 'smoother integration with the U.S. financial system and provide institutions with more accessible, regulated pathways to hold USDtb.' Ethena CEO Guy Young claimed Anchorage, the only crypto operator currently possessing a U.S. bank charter, will help 'reinforce the foundation needed to continue scaling [USDtb] without compromising on speed, flexibility, or trust.' (USDtb's market cap is ~$1.45 billion, while USDe's cap is just under $7 billion.) Anchorage CEO Nathan McCauley said bringing USDtb to America's shores will help 'deliver even greater transparency and confidence' to Ethena's partners. Said partners could include Trump's WLF, with which Ethena struck a deal last December to incorporate sUSDe (a staked version of USDe) into the WLF platform (if and when it finally launches). Last month, Anchorage announced it had started 'a guided phase-out' of several stablecoins from its offering, including USDC, the second-largest stablecoin by market cap issued by Circle (NASDAQ: CRCL). Critics found this move more than a little suspect, given that Anchorage is part of the consortium supporting the Global Dollar Network behind the rival USDG stablecoin issued by Paxos. Back to the top ↑ Tether next? Tether, issuer of the market-leading USDT stablecoin, recently celebrated its token's market cap topping $162 billion (currently standing at $162.6 billion). USDT is the most well-known 'offshore' stablecoin, but Tether CEO Paolo Ardoino keeps claiming that the company has a plan to make USDT GENIUS-compliant. Ardoino previously floated the idea of issuing a new U.S.-focused stablecoin while preserving USDT's use as a dollar substitute in emerging markets. But Ardoino declared last week that Tether was 'working very, very hard to make sure we comply with the foreign issuer pathway within the GENIUS Act.' Ardoino doubled down on this claim this week, telling Bloomberg Television that Tether was 'well in progress of establishing our U.S. domestic strategy.' This strategy will focus on 'U.S. institutional markets, providing an efficient stablecoin for payments but also for interbank settlements and trading.' GENIUS gives foreign issuers a three-year window in which to become compliant, so Ardoino has some wiggle room in which to at least appear to be doing what Tether says it's willing to do. 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Back to the top ↑ Crypto, fintechs seek Trump's help v JPMorgan Back to JPMorgan, on July 23, a coalition of fintech and crypto firms sent a joint letter to the White House asking for help in kiboshing plans by the Wall Street banker to impose new fees for accessing bank customers' data. JPM announced the fees, which target third-party data aggregators like Plaid that serve as bank-to-fintech bridges, a couple of weeks ago. Crypto operators are rightfully concerned that the aggregators will pass on the costs of the fees. So the Blockchain Association, the Crypto Council for Innovation, and the Digital Chamber all added their names to the letter sent to President Trump. The letter begins with some flattery about the president consistently standing for 'innovation, competition, and individual freedom.' The letter then warns of the grave threat that 'large, incumbent banks' pose to life, liberty, and the pursuit of speculative riches. 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