Philippine Bond Bourse to Start Forward Contracts in Reform Push
- Regulator has approved mechanism to be run by bond exchange
- Program to manage interest-rate risks may begin in February
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Philippine regulators have given the green light for market-structure services firm PDS Group to offer trading of government bond forward contracts as the nation works to deepen its capital market.
A market framework and infrastructure for the instruments was approved by the country’s Securities and Exchange Commission on Jan. 2, said Antonino Nakpil, president of Philippine Dealing & Exchange Corp. PDEx, the trading-services arm of PDS, operates Manila’s bond exchange and will run the new mechanism.