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Home » Market Community » Brokering Participants – Apply

Eligibility

  • Be duly registered by the SEC as a securities broker in fixed income securities, and a government securities broker when buying or selling Government Securities;
  • Have 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
  • Have at least one (1) trained Salesman duly registered with the SEC which shall be identified in the application.
  • 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) Associated Person or its equivalent;
  • Have at least one (1) representative in the person of the head of sales in the case of the Brokering Participant (“Representative”) 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; and
  • Have such other qualifications as shall be required by PDEx and the applicable laws and regulations.
  • Board Resolution for the following:
    • To become a Brokering Participant of PDEx;
    • To participate in the PDEx eDvP Facility;
    • To open a PDTC Depository Account
  • Have the users attend the required user trainings for the respective PDS systems

 

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