Let the good times roll

Minimum brokerage commissions are restored in the Philippines. Champagne corks pop across Makati.

The Philippine Stock Exchange PSE has restored the minimum brokerage commision rates that brokers on the exchange can charge their clients. The new minimum will be 25bps. The Philippine Securities and Exchange Commission SEC approved the move on Monday after a request by the PSE to change the rules. We have written a letter to the PSE approving their proposed rules to set a minimum commission rate, said Graciano Felizmenio, assistant director of the SEC in Manila.

The new rates will have to fall within the band set by presidential decree 154 amended which states that the maximum commission must be 150bps and the minimum must be above Ps20 per trade. As long as the...

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