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Eligibility
- Be any of the following:
- Bank;
- Registered investment house;
- Insurance company;
- Pension fund or retirement plan maintained by the Government of the Philippines or any political subdivision thereof or managed by a bank or other persons authorized by the BSP to engage in trust functions;
- Investment company; or
- Such other person as the Commission may by rule determine as qualified buyers on the basis of such factors as financial sophistication, net worth, knowledge, and experience in financial and business matters, or amount of assets under management [Under Section 10.1 (L) of the SRC ]
- Any of the institutional accounts defined under SRC Rule 52.1-6 of the IRR of the SRC:
- Any other entity (whether a natural person, corporation, partnership, trust or otherwise) with total assets of at least Php 1.2B, provided, however, that the Broker Dealer shall obtain from such entity a declaration, under oath, confirming ownership of such assets
- Have a demand deposit account with the BSP or have designated a cash settlement account with any PDEx-qualified settlement bank;
- Have a securities settlement account with the designated depository, or with the Bureau of Treasury (BTr) Registry of Scripless Securities (RoSS), when trading in Government Securities;
- Be technically capable of connecting to the PDEx Trading System;
- In cases where the applicant is a member of another self-regulatory organization (SRO) and/or duly accredited broker/dealer association, have a certificate from such other SRO and/or broker/dealer association certifying its good standing thereat and absence of derogatory record for three (3) years immediately prior to the application with PDEx;
- Have at least one (1) SEC Registered Associated Person or its equivalent;
- Have at least one (1) trained Trader duly registered with the SEC which shall be identified in the application;
- Have at least one (1) representative in the person of the treasurer of the Trading Participant or such other equivalent officer designated by the President of the Trading Participant who shall be empowered to sign and execute any and all documents for and on behalf of the Trading Participant on PDEx and to receive all the notices from PDEx, except where a different signatory or recipient is warranted, who shall be identified as such in the application;
- Have an unimpaired paid-up capital as required under P.D. 129, as amended, otherwise known as the Investment Houses Law, the Securities Regulation Code or applicable banking laws and their implementing rules and regulations, the pertinent circulars and orders issued by the SEC and the BSP, and rules and regulations of other relevant regulatory agencies; and
- Board, Trust Committee Resolution or the equivalent for the following:
- To become a Qualified Investor Participant of PDEx;
- To participate in the PDEx eDvP Facility;
- To open a PDTC Depository Account
- Have such other qualifications as shall be required by PDEx and the applicable laws and regulations.