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PDEx RULES

Fixed Income Securities Market Rules

PDEx Rules for the Fixed Income Securities Market as Amended (Revised – 25 February 2021)

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
2021 – April 22	Proposed Amendment to the PDEx Rules on Electronic Submission of Listing and Enrollment Requirements
2021 – March 10	Proposed Amendments to the PDEx Rules on Credit Rating as Listing Requirement
2021 – March 5	Proposed Amendments to the PDEx Rules on NRoSS as Securities Settlement Agent

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 pdex.regulation@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
2020 – March 12	Proposed Amendments to Qualifications of Dealing and Brokering Participants
2020 – March 12	Proposed Amendments to Definition of Terms (Traders and Salesmen)
2020 – March 12	Proposed Penalties for Violation of Best Execution Rule
2020 – March 12	Proposed Penalties for Cash Settlement Banks
2020 – November 20	Proposed Amendments to Market Makers_Definition of Terms, Rule 1.12, and Rule 7.16
2020 – November 20	Proposed Amendment to Timeliness Standard
2019 – November 4	Proposed Amendments to the PDEx Rules on Failed Trades and Delayed Settlement
2017 – July 03	Proposed Amendments: Enrollment of Securities Issued Under ASEAN+3 Multi-Currency Bond Issuance Framework
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
2012 – March 29	Proposed Amendment to Continuing Obligations of Trading Participants
2010 – May 24	Proposed Rules for the Listing of Exchange Traded Funds

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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