PSE Stock Loans 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 specifically, eligibility turns on where the name sits in a concentrated market. PSEi constituents — the family-controlled conglomerates, banks and infrastructure issuers that carry the market’s free float and daily turnover — support the highest loan-to-value; Main Board names outside the index, and SME Board issuers, are financed more selectively. Securities borrowing and lending on the PSE runs through a formal SBL programme that underpins short selling, and for short-sale purposes only index constituents and ETFs are eligible — a useful read on which lines the market itself treats as liquid.

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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