[Vantage Point] PSE’s Monzon years: Rearranging the plumbing while the house burns (opens original article in a new tab)

The Philippine Stock Exchange has introduced numerous reforms over nearly a decade but still struggles with low liquidity, declining foreign participation, and weak market performance compared to regional peers.

• Philippine Stock Exchange (PSE) has implemented multiple reforms over nearly a decade under Ramon Monzon's leadership but remains a weak performer in Southeast Asia.
• Despite new products like ETFs and lower capital requirements, the PSE continues to face issues with liquidity, foreign investment, and market relevance.
• The PSE's performance has lagged behind regional peers, with the PSEi index nearly 30% below its 2017 level, indicating persistent structural challenges.