Philippine Stock Exchange
Tel : 63.2 819 4100
Fax : 63.2 864 9047
Representatives
President & CEO : Mr. Hans B. Sicat
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Types of Securities Traded |
Name of Trading Systems (cash and derivatives) |
Trading Hours |
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Equities : 1. Common Stocks 2. Preferred Stocks 3. Warrants 4. Philippine Depositary Receipts
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NSC V900 System replaced the MakTrade system beginning July 26, 2010.
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Pre-open 9:00 AM
Market Open 9 :30 AM
Continuous Trading 9:30 AM - 11 :59 AM
Market Recess 12:00 NN - 1 :29 AM
Market Resumes 1:30
Continuous Trading 1:30 AM – 3 :17 AM
Pre-Close 3 :17 PM
Run-off/ Trading-at-Last 3 :20 PM – 3 :30 PM
Market Close 3 :30 PM |
Supervisory Body
Securities & Exchange Commission (SEC)
Name of Clearing & Settlement Organization
Securities Clearing Corp. of the Philippines (SCCP)
Settlement Cycle
All equity transactions, whether buying or selling has a settlement period of T+3 (trading day + 3 working days). This means that a seller should be able to deliver the stock certificate, if any, to his broker and the buyer must have paid the cost of transaction to his broker within 3 working days after the trade was done. Historically, settlement was done manually (27-day cycle). With the advent of scripless trading wherein settlement is done via the book-entry-system (thru Philippine Central Depository or PCD), transactions are settled on the third day after trade date. Under this system, the investor has the option to hold on to his certificate (uplift) or deposit (lodge) this certificate in PCD through his broker-participant account.
SDT-Bonds transactions, however, are settled on the same day when the trade is transacted (T+0). There shall be no physical transfer of bond certificates. The transfer of securities shall be conducted electronically by the BTr's Registry of Scripless Securities (RoSS). On the other hand, cash settlement will be coursed through the PSE's two settlement banks namely, Equitable-PCI Bank and Rizal Commercial Banking Corporation.
Name of Central Securities Depository
Philippine Depository and Trust Corp. (PDTC)
Commissions on Transactions levied by Exchange
Schedule of Transaction Fees Levied on Investors
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Type of Fee |
Rate |
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Brokerage Commission (Min.)[1] |
Transaction Value |
Minimum Commission (+ 12% VAT) |
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Php100 million and below |
0.0025 |
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Above Php100 million up to Php500 million |
0.0015 but not less than Php250,000 |
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Above Php500 million up to Php1 billion |
0.00125 but not less than Php750,000 |
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Above Php1 billion up to Php5 billion |
0.001 but not less than Php1.25 million |
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Above Php5 billion up to Php10 billion |
0.00075 but not less than Php5 million |
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Above Php10 billion |
0.0005 but not less than Php7.5 million |
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Upliftment Fee[2] |
P50 per certificate + 12% VAT and P50 per certificate as PCD fee |
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Cancellation Fee |
P20.00 + 12% VAT (Applicable only if to be certificated) |
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Withdrawal Fee/ Cancellation Fee on Lodgement |
Php100 per certificate for processing + Php20 per certificate on cancellation + 12% VAT |
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Stock Transaction tax |
0.5% of the value of transaction |
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[1] Under Memo for Brokers No. 2008-0467, the minimum commission rates were made effective on October 6, 2008 and subject to further action by the Securities and Exchange Commission. The minimum rates do not apply to broker-to-broker or odd lot transactions.
[2] The upliftment fee is non-VAT if the stock transfer is a banking stock transfer.
Taxes on Dividends, Interests
Under the National Internal Revenue Code of 1997, as amended, and except in cases where preferential tax treaty rates treaties are applicable, dividends received from domestic corporations are subject to a withholding tax of 10% if recipient is a citizen or resident alien, 20% if recipient is a non-resident alien individual engaged in trade or business in the Philippines, and 25% if the recipient is a non-resident alien individual not engaged in trade or business in the Philippines. Dividends received by Domestic Corporation from another domestic corporation, and by a resident foreign corporation from a domestic corporation are not subject to tax. The rate of income tax withheld on dividends paid to a non-resident foreign corporation from a domestic corporation is 30% of dividends received, which may be reduced to 15% subject to the condition that the country in which the nonresident foreign corporation is domiciled, shall allow a credit against the tax due from the nonresident foreign corporation taxes deemed to have been paid in the Philippines equivalent to 15%.
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Withholding Tax |
Filipino citizen or resident alien: 10% of dividends received |
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Non-resident alien individual engaged in trade or business in the Philippines: 20% of dividends received |
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Non-resident alien individual not engaged in trade or business in the Philippines: 25% of dividends received |
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Non-resident foreign corporation: 30% of dividends received |
2011 Share ownership thresholds (%)
Listed companies are required to maintain a 10% minimum public float effective November 30, 2010[1]
Short selling (Yes / No)
No
Short selling conditions (if any)
NA