The Philippine Stock Exchange (PSE) will reopen its trading floor on Monday following the easing of coronavirus lockdown restrictions in the capital Manila, Trend reports citing Xinhua.
The PSE trading floor has been closed since March 19 after Philippine President Rodrigo Duterte placed Metro Manila under lockdown to halt the spread of COVID-19.
"While our floorless or offsite trading from March 19 to May 29 has proven to be efficient and seamless, we decided to reopen and resume trading on the floor to convey a strong message to the investing public that things are back to 'normal' in the capital markets," PSE President and CEO Ramon Monzon said in a statement Sunday.
"Hopefully, the optics of the reopening will contribute to the restoration of the general public's much-needed confidence in the recovery of our economy," he added.
Monzon said health and safety guidelines will be strictly enforced on the trading floor to ensure social distancing.
He said that temperature checks will be enforced on the traders prior to entry in the floor and midway through the trading session. They will also be required to submit daily health declarations prior to entry.
To comply with physical distancing requirements, Monzon said only one trader per booth will be allowed compared to two or three traders per booth before.
He added that all persons inside the trading floor will be required to wear masks at all times and no congregation in any area within the floor will be allowed.
PSE will also provide hand sanitizers at strategic areas on the floor and will diligently perform the disinfecting protocols, he added.
"The above measures may be inconvenient and troublesome but we trust the traders will understand and appreciate that all these are being done to safeguard their health and well-being," Monzon said.
He said that the PSE will continue to observe shortened trading hours from 9:30 a.m. to 1 p.m. until further notice.
"Trading hours may remain abbreviated but the PSE will do what it can as a stock market operator to support initiatives towards the country's economic recovery," Monzon added.
The Philippines now has 18,086 confirmed COVID-19 cases, including 957 deaths and 3,909 recoveries.