THE Philippine Stock Exchange Inc. (PSE) posted a 19.8-percent increase in net income to P608.38 million in the first half, supported by higher trading activity and related market revenues.
The exchange's profit rose from P508.03 million in the same period last year, while operating revenues increased 9.4 percent to P1.44 billion from P1.31 billion.
PSE President and CEO Ramon Monzon said the stronger performance reflected improved market activity, with average daily value turnover rising 13.5 percent to P7.72 billion from P6.80 billion a year earlier.
“This boost in liquidity can be attributed to the Capital Markets Efficiency Promotion Act, which reduced the stock transaction tax from 0.6 percent to 0.1 percent effective July 1, 2025, bringing the cost of trading in our market closer to our regional peers,” he added.
Transaction fees rose 10.7 percent to P303.43 million as trading volumes at the PSE and Philippine Dealing Exchange Corp. improved.
Securities Clearing Corp. of the Philippines service fees increased 14.5 percent to P165.45 million, as equity trading value climbed 14.5 percent to P926.54 billion from P809.27 billion in the first half of 2025.
Revenues from Philippine Depository Trust Corp. also grew 4.3 percent to P294.55 million, mainly due to higher fixed-income depository holdings.
Other operating revenues nearly doubled to P184.49 million from P94.23 million a year earlier.
Despite the increase in revenues, the exchange kept total costs and expenses relatively contained, rising 3.1 percent to P728.90 million from P706.77 million.
Monzon said the PSE was also working to make the local market more accessible to prospective issuers.
The Securities and Exchange Commission has approved the exchange's tiered public ownership framework and revised rules on preferred-share listings, which lowered the minimum offer size to P100 million from P1 billion and allowed direct listings, the PSE said.
The exchange expects about P133.70 billion in forthcoming listings in the second half, including the planned initial public offerings of Mynt Inc. and Vitro REIT Corp.
“We are working toward a market that is easier to list in, less costly to trade in, and open to a wider range of investors and issuers,” Monzon said.
