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Philippine capital markets prepare for faster trade settlements

The Securities Clearing Corporation of the Philippines (SCCP) plans to implement a new settlement cycle, reducing trade settlement time from T+3 to T+2, as part of efforts to enhance efficiency in the capital markets.

The Capital Markets Integrity Corporation (CMIC) has received a notice from the Securities and Exchange Commission (SEC) regarding the SCCP’s proposed change, which is expected to have a positive impact on the Philippine capital markets.

The revision will directly affect the risk-based capital adequacy computation of trading participants, prompting the CMIC to revise its rules and submit proposed revisions to the SEC for consideration.

The CMIC has also requested feedback from trading participants to ensure a comprehensive evaluation of the planned settlement cycle adjustment.

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