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Philippine Stock Exchange shortens trade settlement cycle

The Philippine Stock Exchange Inc. (PSE) is set to implement a shortened settlement cycle for trades, aiming to enhance market operations. Starting August 24, the Securities Clearing Corp. of the Philippines (SCCP), a PSE subsidiary, will settle stock market transactions after two clearing days, changing from the current three-day cycle. The Securities and Exchange Commission (SEC) previously approved this shift to the T+2 settlement cycle. PSE President and CEO Ramon Monzon expects this change to boost operational efficiency and reduce risk, aligning SCCP’s settlement process with international standards. Trades completed on August 24 will settle on August 29, due to August 28 being a bank holiday Monday. The SEC has approved a two-week transition period, extending the settlement deadlines by one hour from August 29 to September 11. After September 12, regular noon settlement deadlines will apply, with penalties for late settlements under SCCP rules.


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