Philippine Stock Exchange boss touts new securities lending programme

Philippine Stock Exchange (PSE) CEO and president Francis Lim has highlighted securities lending as an area where the exchange is likely to prosper in the new year.

In a statement, the CEO said that securities lending formed part of its ambitious ‘Level Up’ plan which aims to boost the bourse’s performance.

“2010 will be the year where we will start reaping the fruits of our efforts under the ‘Level Up’ strategic agenda like the full implementation of the Personal Equity and Retirement Account (PERA) law, the Real Estate Investment Trust (REIT) Act, the new trading system and the securities borrowing and lending programme that will enable short selling in the stock market,

” he explained.

Securities lending in the Philippines has developed significantly over the last few years, with the country’s finance regulator the Securities and Exchange Commission approving rules on the practice in June 2006 with further rules approved in 2007.