PDS Group Celebrates PhP 1 Trillion Milestone for the Corporate Securities MarketPosted on: December 6, 2018
06 December 2018, Makati Philippines – The 25th listing event in the Philippine Dealing & Exchange Corp. (PDEx) organized secondary market has set two milestones by being the inaugural bond issuance on the upgraded PDTC Fixed Income Registry System and bringing the Total Outstanding Face Amount of Corporate Securities listed on PDEx to PhP 1 Trillion.
The listing of Bank of the Philippine Island’s (BPI) PhP 25 Billion Bonds on PDEx officially makes 2018 the record holder for the highest volume of listings in a single year at PhP 210 Billion, exceeding the 2017 figure of PhP 207 Billion.
The PDS Group would like to thank the entities that fueled the growth of corporate bonds, including the Securities and Exchange Commission (SEC) for providing the 2008 SEC OTC Implementing Rules and Regulations (IRR) framework that formed the kernel for the corporate bond market, and later notably boosting it with the 2015 Securities Regulation Code IRR; the Issuer community for their faith in the secondary market and making available more issues to add as investment opportunities for Philippine investors; and the committed market intermediaries and liquidity supporters for their commitment in assuring investors that entry and exit mechanisms for their investments are in place.
PDS Group Officer-in-Charge Ma. Theresa B. Ravalo and PDEx President and COO Antonino A. Nakpil stressed the unity of purpose of all the stakeholders, Regulators, Intermediaries, Issuers, and Infrastructure in supporting the principled approach to market development while nurturing investors.
“The unity and support for principles are what would sustain all our initiatives moving forward, and guide us in assessing changes from the promise of new technologies or alternative structures and engagements, in the near term and through the next ten years,” said Mr. Nakpil.