PSE Block Trade in the Philippines

Philippine Stock Exchange is the principal cash-equity venue of the Philippines. Founded in 1992 (unification of Manila and Makati Stock Exchanges), it operates under the oversight of Securities and Exchange Commission (Philippines), and its leading benchmarks are PSEi (PSE Composite Index). Listing standards are set out in the PSE Listing Rules; Securities Regulation Code (R.A. 8799).

PSE at a glance:

The sole equity exchange of the Philippines, with a concentrated index led by family-controlled conglomerates and infrastructure issuers. Foreign-equity ceilings in regulated sectors are central to whether a non-resident line can be pledged.

On the PSE, a block is placed through the exchange’s block-sale facility rather than a free-form off-market deal: a regular block sale carries a minimum transaction value and a price band around the reference price, with a higher minimum for special block sales. Because turnover concentrates in the PSEi, a large line in an index name can clear at a tight spread, while size in a thinner Main Board or SME Board issuer is better taken onto Black Haven’s book. Settlement is T+2 through the SCCP and PDTC, and foreign-ownership monitoring applies to each transfer.

The principal regulatory reference on PSE is SRC Rule 18.2. How it applies to any single transaction — reporting levels, step thresholds — turns on the underlying rules and national-law overlays, which we map against your contemplated transaction at the structuring stage alongside the counsel you appoint.

The citations above are public regulatory references, given for orientation only and not as legal advice. Take independent legal advice in the relevant jurisdiction for any specific transaction.

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