Kolon Benit Won Philippine Exchange Disclosure Contract
The firm will upgrade the Philippine Stock Exchange disclosure system to support XBRL standards.
Updated on Sept. 21, 2026 in Corporate Finance
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Kolon Benit has been selected to develop a next-generation electronic disclosure system for the Philippine Stock Exchange. The project, overseen by the Korea Exchange, aims to modernize how the market handles disclosure submissions, internal reviews, and investor data.
Why it matters
The upgrade is designed to bring the Philippine securities market in line with current global IT standards for financial transparency. For market participants and operators, this transition promises improved data accuracy and real-time processing capabilities.
The system development will span 2 distinct phases, moving from stability enhancements to a full XBRL-based architecture. This project builds on the system Kolon Benit originally constructed for the Philippine Stock Exchange in 2013-2014.
The players
Kolon Benit
A technology solutions provider specializing in the development of complex financial disclosure systems like DART and KIND.
Philippine Stock Exchange
The national securities market operator responsible for maintaining listing and disclosure standards.
Korea Exchange
The operator of South Korea's securities and derivatives markets, acting as an overseer for this technology project.
The details
The development plan transitions the existing PSE EDGE platform into a responsive web-based system capable of high-speed search and real-time data processing. Phase 2 of the rollout will specifically implement an XBRL-based framework, a standard that simplifies the exchange of financial reporting data. The initiative also aligns with Kolon Benit’s technical footprint in other Asian markets, where the firm is simultaneously engaged in disclosure projects for exchanges in Vietnam.
Timeline
2013-2014: Kolon Benit completed the original construction of the PSE disclosure system.
September 21, 2026: Kolon Benit announced the commencement of the new development project.
Market Landscape
The project follows a precedent set by the original 2013-2014 construction of the PSE disclosure system by the same vendor. It reflects a broader regional trend as Kolon Benit exports its proprietary disclosure technology, previously used for the DART and KIND systems, to other exchanges in Vietnam.
Operators in the Philippines should anticipate shifting technical requirements for filing and disclosure as the system moves to an XBRL-based format. Firms should monitor the transition phases to ensure their compliance reporting tools remain compatible with the new real-time architecture.
The takeaway
The move to XBRL-based disclosure represents a significant shift toward standardized, machine-readable financial data in the Philippine market. Firms should coordinate with their IT and compliance teams to evaluate how the new system's real-time search and data processing features will change their own reporting workflows.
Further reading
For broader trends in infrastructure upgrades, visit Corporate Finance.
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