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PDEx RULES

Fixed Income Securities Market Rules

PDEx Rules for the Fixed Income Securities Market, as Amended (Revised – 29 October 2018)

Repurchase Agreement Program Rules

REPO Rules

Securities Lending Transaction Program Rules

PDEx SLT Program Rules

Revised MCDC Internal Rules

Rule Proposals for Comments

Subject to the Securities and Exchange Commission (SEC) approval and pursuant to the procedures set forth in the SRC Rules, PDEx’s power to adopt and amend rules also includes the power to repeal existing rules, implement such rules and provide interpretative guidance to aid in compliance.

The proposal shall be disseminated for comment simultaneous with submission of the same to the SEC for information.

Posting Date	Rule Proposals for Comment
24 January 2019	Proposed-Rule-on-Failed-Trades-and-Delayed-Settlement-as-revised

For any comments, please send via electronic mail (e-mail), within a non-extendible period of twenty (20) days from date of posting, to PDEx Regulation at pdexregulation@pds.com.ph using the registered e-mail addresses of the PDEx Registered Personnel.

Rule Proposals for Approval of the SEC

The following proposals have been disseminated for comments. Upon consideration of the comments received, revisions, if any, have been incorporated, and the revised and/or final draft has been submitted to the Securities and Exchange Commission (SEC) for its approval.

Posting Date	Rule Proposals for Approval of the SEC
2018 – January 26	Proposed Amendments: Penalties for Cash Settlement Banks
2017 – September 14	Proposed Amendments: Voice Broker Responsibility for Switch Transactions
2017 – July 03	Proposed Amendments: Enrollment of Securities Issued Under ASEAN+3 Multi-Currency Bond Issuance Framework
2017 – May 04	Proposed Revisions: Transactions Not Presumed to be Manipulative or Prohibited Conduct
2016 – December 05	Proposed Amendment to the PDEx Rules on Renaming Market Compliance and Discipline Committee (MCDC) to Market Compliance and Enforcement Committee (MCEC)
2016 – December 05	Proposed Amendment to the PDEx Rules on Shelf-Registered Securities
2016 – November 29	Proposed Amendment to the PDEx Rules on Extension Window for Settlement Authorization, Delayed Authorization and Failed Trade
2016 – November 29	Proposed Amendment to the PDEx Rules on Liability of Dealers in Dealer-QI Trades
2015 – May 22	Proposed Amendment to the PDEx Rules on Status of Registration of PDEx Registered Personnel
2015 – January 30	Proposed Amendment to the PDEx Rules on T+N Transactions, As Revised
2014 – December 22	Rule Proposal on Amendment of PDEx Rule 6.3 on Other Duties to Customer – Tax Adjustment for Non-Restricted Transfers, As Revised
2014 – December 22	Rule Proposal on Amendment of the PDEx Rules – Other Duties to Customer – Duties of Holder of Bank-Issued Instruments
2014 – November 25	Rule Proposal on the Amendment of the PDEx Rules – Payment of Fines and Additional Charge for Late Payment of Monetary Penalties, As Revised
2014 – September 30	Rule Proposal on Amendment of the PDEx Rules – Pre-Termination by Issuer
2014 – June 5	Proposed Revisions – Prohibited Conduct Subject to Surveillance
2014 – January 6	Proposed Rule on Minimum Information on the Confirmation Advice, As Further Revised
2013 – January 29	Proposed Exclusion from the Rule on Delayed Settlement
2012 – October 19	Proposed Rule Recognizing the Institutional Broker in the PDEx Rules
2012 – March 29	Proposed Amendment to Continuing Obligations of Trading Participants
2012 – March 29	Proposed Amendment to Rule 1.3.2(a) on Additional Qualifications of a Dealing Participant
2012 – March 29	Proposed Amendment to Definition of Terms
2012 – March 9	Proposed Penalties for Violation of the Best Execution Rule
2010 – May 24	Proposed Rules for the Listing of Exchange Traded Funds
2010 – May 24	Proposed Amendment to Rule 7.6 on Disclosure of Intent to Admit Securities for Trading in PDEx
2009 – May 7	Proposed Amendments to Make Market-Making a Continuing Requirement
2009 – January 27	Proposed Amendments on the RoSS as Securities Settlement Agent
2008 – October 7	Proposed Amendments on 3-Minute Rule, Credit-Rating and T+N Trades Proposed Further Amendments on T+N Trades
2008 – August 22	Proposed Amendments on Content of the Monthly Sworn Certification
2008 – August 22	Proposed Amendments on Requirements for Enrollment as eDvP Public Investor
2008 – April 14	Proposed Penalties for Defaults in the Repo Program
2008 – April 14	Proposed Penalties for Defaults in the SLT Program

Rule interpretation

PDEx Rules are to be applied/implemented and/or interpreted, if necessary, in accordance with their spirit, intention, and purpose; by looking beyond form to substance; and in a way that best promotes the principles of fair practice and honest dealings.

Pursuant to PDEx Rule 16.9, interpretations of the existing rules may be presented to the Market Governance Board by any unit of PDEx, without dissemination for comment. However, the Market Governance Board, before approving the same for adoption shall ensure that an adequate internal process is conducted that allows relevant feedback from all affected units of PDEx.

Posting Date	Rule Interpretation
2014-Mar-11	Rule Interpretation, As Revised – Minimum Broker Commission Rule – 11 March 2014
2014-Jan-30	Rule Interpretation – Minimum Broker Commission Rule – 28 January 2014
2008-Jan-07	Rule Interpretation – Trust as Qualified Investor Participant – 7 January 2008

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