ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In 2001, the PSE transformed from a nonprofit, nonstock, member-governed organization into a shareholder-based, revenue-earning corpora-tion. In 2003, it listed on the local stock exchange. The main index for PSE is the PSE Composite Index (PSEi).

Detailed explanation-2: -In October 2004, the Securities Clearing Corporation of the Philippines (SCCP), a clearing and settlement agency for depository eligible trades, became a wholly owned subsidiary of the PSE.

Detailed explanation-3: -(PSE) was incorporated on July 14, 1992 as a non-stock corporation with the primary objective of providing and maintaining a convenient and suitable market for the exchange, purchase and sale of all types of securities and other instruments. The Company eventually became a stock corporation on August 3, 2001.

Detailed explanation-4: -Although both the MSE and the MkSE traded the same stocks of the same companies, the bourses were separate stock exchanges for nearly 30 years until December 23, 1992, when both exchanges were unified to become the present-day Philippine Stock Exchange.

Detailed explanation-5: -The PSE implemented on March 25, 1994 an automated trading system linking the two exchanges. The system resulted in a single trading price for all listed securities and the consolidation of the Makati Stock Exchange and the Manila Stock Exchange into the PSE.