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Manila Bulletin devider Business devider The Stock Market devider PSE can now cancel trading due to disasters or glitches

PSE can now cancel trading due to disasters or glitches

Published Aug 20, 2025 06:25 pm
Jose T. Pardo (left) and Ramon S. Monzon (right)
Jose T. Pardo (left) and Ramon S. Monzon (right)
The Philippine Stock Exchange has implemented new rules which give it the discretion to cancel trading in the event of natural disasters or terrorist attacks as well as during glitches in the bourse’s trading system.
In a memorandum, PSE President and CEO Ramon S. Monzon said these rules have been approved by the PSE and take effect immediately after the posting of the memorandum.
The PSE amended its Revised Trading Rules for Market Halt or Suspension of Trading Activity, which had set the trigger for market-wide halt when there is an inability of at least a third of trading participants to access the trading system.
The trigger has been changed to “inability of TPs accounting for more than 50 percent of the average daily trading value (exclusive of block sales) for the six calendar months preceding the date of determination to access the trading system, directly or through their correspondent TP.”
Inability to access the system must be due solely to trading system problems attributable to Exchange system issues, natural disasters, or unforeseen and unavoidable events beyond the control of PSE or TPs.
Meanwhile, the PSE issues new Guidelines on Natural Disasters or Extraordinary Circumstances, which give the Exchange the discretion to halt, suspend, or cancel a scheduled Trading Day in the event of natural disasters or extraordinary circumstances and the Exchange is unable to implement its Business Continuity Plan.
“To maintain an orderly, fair and informed market, the Exchange shall have the discretion to halt, suspend or cancel a scheduled Trading Day” when certain events occur or there is reasonable cause to believe that it is likely to occur.
These circumstances include an emergency situation such as fire, earthquake, eruption, flood, heavy rainfall, civil commotion, terrorist attack, and “other analogous circumstances that necessitate evacuation from, or prevent the PSE employees from re-entering, the Exchange premises.”
It also includes “Any other emergency or analogous situation, including fortuitous events that may adversely impact the operation of a fair, orderly, and efficient market or pose a risk to PSE employees, upon recommendation of the Market Operations Division, with the approval of the President of the Exchange.”
The Exchange shall immediately notify the Securities and Exchange Commission of its decision to halt, suspend or cancel a scheduled Trading Day.
In the event that the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (PAGASA) issues an official tropical cyclone wind signal (TCWS) announcement in the National Capital Region (NCR), the Exchange shall decide on the cancellation of a scheduled Trading Day.
Trading will not be affected during TCWS Signals No. 1 and 2, but there will be no trading during TCWS Signals No. 3, 4, and 5.
However, should PAGASA officially announce the downgrading of the TCWS in the National Capital Region to Signal No. 1 or 2 by 6:00 A.M. of the following Trading Day, there shall be no cancellation of the said scheduled Trading Day.
Should the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (Pagasa) officially announce that the TCWS in NCR remains at Signal No. 3 or higher by 6:00 A.M. of the following Trading Day, said Trading Day shall be cancelled.

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Philippine Stock Exchange Securities and Exchange Commission
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