We are pleased to announce that the settlement cycle for buying and selling transactions at the Philippine Stock Exchange (PSE) will be shortened from T+3 Trading Days to T+2 Trading Days effective August 24, 2023.
Under the new settlement cycle, trades executed on a specific Trading Day will be settled two Trading Days after the trade date. For example, if you sell stocks on Friday, the settlement will take place on Tuesday (T+2).
Please note that the last T+3 trades executed on August 23 will be settled on August 29 (Tuesday), while the August 24 (Thursday) T+2 trades will also be settled on the same date, August 29, due to the National Heroes Day on August 28.
Aug 22 (Tuesday) Aug 25 (Friday) T+3
---------------- Aug 28 (Monday) Holiday
Aug 23 Aug 29 T+3
Aug 24 Aug 29 T+2
Aug 25 Aug 30 T+2
We would also like to inform you that, in accordance with internationally accepted practices on the treatment of corporate actions, the PSE is changing the determination of the ex-rights date for corporate actions. Starting from the target effective date of August 24, 2023, the ex-rights date will be one (1) trading day prior to the disclosed record date.
For more detailed information, including any additional updates or changes, we encourage you to view the complete announcement [CN - No. 2023 - 0031 link].