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Trading
Introduction
PDEx provides diverse access solutions for bilateral transactions among its Members. Members may engage in negotiated dealing through a Quote-Driven Engine, or be matched via algorithm through an Order-Driven engine. The online trading platforms help PDEx Members to instantaneously view the best prices in the market and efficiently execute the transactions relevant to their own or their Client Investors’ asset portfolios.
PDS Fixed Income (FI)
PDS FI provides direct, speedy electronic access to registered fixed income markets operated by PDEx, a registered Self-Regulatory Organization. It allows multiple modes of execution across market segments including dealers, qualified investors and public investors through their brokers. Trades are centrally captured and linked straight through to delivery-versus payment settlement systems via PDS Clear.
Diversified platforms to match trade execution strategies and capabilities include:
- PDS FI Quote is the platform for quote-driven trade execution via negotiated dealing screens or board-posted live price quotes.
- PDS FI Order is the platform for order-driven trade execution with an electronic order book and matching engine which provides pre-trade anonymity and an assortment of order methods.
- PDS FI Dealer is the workstation highly configurable to the needs of Dealers and Market Makers, optimizing access to the quote driven and order driven capabilities of the system, with a separate electronic book (House) for these units.
- PDS FI Broker is the workstation customized to carry out the brokerage activities of registered representatives of public investors. It has separate electronic books for order and trade execution on behalf of these units’ clients.
- PDS FI Trader is the workstation designed for Qualified Investor Participants accessing the PDS FI Markets.
PDS Repo
PDS REPO is a Repurchase Agreement market which supports the cash liquidity of financial institutions duly admitted as PDEx Members and provides secured short term investment outlets to PDEx Members and Qualified Investors. All Repo trades are centrally captured and linked straight through to settlement via PDS Clear.
Both PDS REPO and PDS SECLEND are market programs approved by the Securities and Exchange Commission (SEC) and are covered by a “no-objection” letter by the Bangko Sentral ng Pilipinas (BSP) that enables BSP-regulated entities to participate in these markets.
PDS SecLend
PDS SECLEND is a securities lending program which supports the securities liquidity requirements of financial institutions duly admitted as PDEx Members.
Both PDS REPO and PDS SECLEND are market programs approved by the Securities and Exchange Commission (SEC) and are covered by “no-objection” letters by the Bangko Sentral ng Pilipinas (BSP) that enable BSP-regulated entities to participate in these markets.