Joint statement of Bangko Sentral ng Pilipinas and Department of Finance on the operations of Philippine financial markets

March 18, 2020

Based on the recommendation of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF), the Office of the President announced yesterday, March 16, enhanced community quarantine measures for the island of Luzon to address the public health dangers posed by COVID-19. These measures include strict home quarantine and suspension of mass public transport facilities to arrest the spread of the virus.

In compliance with the enhanced measures, financial market platforms, including the Philippine Stock Exchange, Philippine Dealing & Exchange Corporation, Philippine Depository & Trust Corporation, and the Philippine Securities Settlement Corporation, suspended their operations today, March 17.

The IATF and concerned government agencies, such as the Securities and Exchange Commission, Department of Finance, and Bangko Sentral ng Pilpinas, have been actively coordinating with these market platforms to facilitate a swift resumption of operations.   

In its meeting later today, the IATF granted the trading platforms exemption from the enhanced quarantine measures after they assured the authorities that necessary safeguards to ensure the safety of their employees and the community they interact with are in place. DMS