Updated and Consolidated Trading Rules

December 23, 1997

PSE CIRCULAR NO. 248-97

UPDATED AND CONSOLIDATED TRADING RULES

Attached is the updated trading rules as approved by the Board of Governors and as a result of the consolidation of all recently issued trading rules as of this date. For historical purposes, this consolidated rules is annotated to refer to the original exchange circulars. cdlex

While trading is now fully scripless, the rules on clearing and settlement are still included unchanged to cover the interim period where the old clearing houses still operate. An updated version reflecting an environment that is purely scripless will be issued soon.

For your reference.

(SGD.) RAFAEL L. LLAVE
Chief Operating Officer

TRADING AND SETTLEMENT RULES

Table of Contents

Chapter I. Trading

Article 1. Trading Hours

Article 2. Business Hours

Article 3. Trading Booth

Article 4. Entering and Prioritizing

Article 5. Revisions in Order

Article 6. Types of Orders Acceptable to the System

Article 7. Opening Price Calculation

Article 8. Cross Transactions

Article 9. Special Block Sales

Article 10. Board Lots and Price Fluctuations

Article 11. Odd Lots

Article 12. Limit of Orders

Article 13. Matching of Orders

Article 14. Cancellations of Posted and Done Orders

Article 15. Cancellation of Matched Orders

Article...

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