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Philippine Stock Exchange (PSE)

Philippines Stock Exchange Website: PSE Home Page
Contact: Contact PSE
Map: PSE Map

The Philippine Stock Exchange (PSE)
PSE is a shareholder-based revenue earning company. It operates two trading floors, Manila and Makati, which are linked electronically to achieve common pricing. Trading is automated and conducted by double auction market method between buyer and seller, both represented by brokers.

Trading System
The automated trading system is known as MAKTRADE and is a continuous quotation system in which trading is performed in one continuous session daily. It allows for trading in a broker to broker market as well as large block transactions and intra-broker cross trades.

Government securities are traded through the Registry of Scripless Securities (RoSS) which is an electronic book entry system operated by the Bureau of Treasury.

Trading Hours
09:00 a.m. Pre-Open
09:30 a.m. Market Open
12:00 p.m. Market Recess
01:30 p.m. Market Resumes
03:17 p.m. Pre-Close
03:20 p.m. Run-off/ Trading-at-Last
03:30 p.m. Market Close

Security Identifiers
ISIN: Yes, for listed securities but is not generally used in the market.

Listed stocks are also designated by a three or four letter trading symbol issued by the PSE. The Bureau of Treasury issues a series number for each government security. There is no standard system for other securities.


Common and preferred shares, warrants, Philippine deposit receipts (PDRs)
New company listings typically offer one class of share, for residents and non-residents, with the level of foreign ownership monitored by the transfer agent.
Previously, companies issued two classes of shares proportionate to applicable foreign ownership limits: “A” shares sold only to residents, and “B” shares sold to both residents and non-residents.

Debt: Corporate bonds, commercial debentures, government debt, treasury bills, treasury bonds, commercial paper and small denominated treasury (SDT) bonds

Money Market: 90-day time deposit

Physical: The Philippines has been trading in scripless form since 1997.
For sale transactions, physical shares must be lodged in the broker’s PDTC account on SD. For certain issues, PSE require that all clients deliver stock certificates to the selling broker on or before trade date.
For purchase transactions, the sub-custodian remits payment against the receipt of the stock certificate.

Board Lots

Equities: Board lots vary with share price and range from 10 shares to one million shares. Any unit smaller than a board lot is considered an odd lot. Trading is done by board lots and a maximum of five board lots are allowed per trade.
Debt: There is no minimum board lot however banks and financial institutions impose their own lot sizes which range from PHP 10,000 to PHP 1 million.