Dear Valued Client,
Good day! This is with reference to the Securities Clearing Corporation of the Philippines (SCCP) notice to all market participants regarding the Migration to the T+2 Settlement Cycle effective August 24, 2023.
With this, equities trades executed on August 24, 2023, will be settled on August 29, 2023, taking into consideration the national holiday on August 28, 2023 (National Heroes Day). Starting August 24, 2023, all trades will settle on a T+2 basis.
Therefore, when you buy shares, your payment must be received no later than two business days after the trade is executed. Similarly, when you sell shares, the proceeds will be available in T+2. Please see the attached file for your reference.
Should you have any concerns or clarifications that you may have in this regard, please feel free to email us.
