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PSE proposes continued trading on special non-working days in NCR, gov’t work suspensions

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Jose T. Pardo, chairman of the Philippine Stock Exchange, Inc. (PSE), with Taguig City Mayor Lani Cayetano and PSE executives, leads the ringing of the bell during the opening of the trading at the new PSE headquarters in Taguig City.

THE PHILIPPINE Stock Exchange (PSE) is proposing an amendment to the trading day clause under the Revised Trading Rules to make it a policy to have continued operations on: (1) Special non-working days in the National Capital Region, and (2) Days when work in government offices is suspended but not in the private sector. The proposal, contained in a memorandum dated April 10, has been submitted to the Securities and Exchange Commission for approval. The PSE also said that “the Securities Clearing Corporation of the Philippines (“SCCP”) and the Capital Markets Integrity Corporation (“CMIC”) also intend to issue their respective Guidelines for Trading Without Settlement (“Guidelines”), to provide guidance to the trading participants/clearing members on the implementation of the proposed rule.” The SCCP and CMIC draft guidelines are still open for comments.