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News PDS portal seen to boost capital market

Tagapagbalita 

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THE electronic Securities Issue Portal (e-SIP Portal) project of the Philippine Dealing and Exchange Corp. (PDEx) is likely to boost the development of the country’s capital market, according to the Department of Finance.

“Today, we mark a milestone in the progress of our capital markets toward full digitalization,” Finance Secretary Carlos Dominguez 3rd said during the listing of Ayala Land Inc. (ALI) bonds through the e-SIP Portal.

He added this is the first time that ALI’s corporate bond offer will be listed in the capital market and PDEx using the e-SIP Portal.

Dominguez also commended the Philippine Dealing System Holdings Corp. Group or PDS Group for implementing the historic project that would not only digitize the capital markets, but also benefit the environment.

It also democratizes bond investing by taking away the pain points that discourage companies and retail investors from participating in the capital markets.

The Finance chief added that the electronic system could generate more liquidity in the market because the paper-based submission of requirements is among the factors that raised friction costs for financial transactions.

“When we achieve full digitalization of our capital markets, trading will be more efficient and competitive,” said Dominguez.

He further said the digitalization initiative is an excellent response to his challenge to the PDS Group to foster greater financial inclusion and help deepen the country’s capital markets by making its systems more efficient and accessible to both issuers and retail investors.

Meanwhile, Dominguez said ALI’s pilot electronic issuance is a testimony to the strength of the country’s fiscal and financial position, the framework that enables the capital market to maintain a low interest rate regime.

“This low-interest environment makes financing investments cheaper and will help power our strong economic recovery,” he said.

 
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