April 6, 2017
SEC MSRD
| TO | : | All Concerned |
| SUBJECT | : | Directives on Dollar Denominated Securities (DDS) |
NOTICE
This is in reference to the requirement imposed by the Commission in approving the PSE Listing Rules on Dollar Denominated Securities (the "DDS Rules") which mandates the creation and maintenance of sub-accounts under the Name-on-Central-Depository ("NoCD") arrangement in accordance with the Philippine Depository & Trust Corp. ("PDTC") Rules and Procedures. HTcADC
It has since been emphasized with the PSE and PDTC that the NoCD requirement is mandatory for all DDS transactions.
Said requirement is fully embodied in Section 3, Part A, General Provisions of the DDS Rules of PSE approved by the Securities and Exchange Commission on 10 November 2016 and officially released by the PSE on 02 December 2016.
Despite the clear mandatory requirements of DDS transactions, it is observed that there is still confusion on the NoCD requirement. In this regard, and as well as in response to the letter-request dated 03 April 2017 of Issuer Del Monte Pacific Limited ("DMPL") and Issue Manager BDO Capital & Investment Corporation ("BDO...
