What are the trading hours?

TIME	PERIOD	ACTIVITY/IES
9:00-9:29 AM	Market Pre-Open	Orders are accepted but no matching of orders can occur during this phase. (No cancellation from 9:15 – 9:30 AM)
9:30 AM	Opening	Opening prices are calculated.
9:30-11:59 AM	Continuous Trading	All orders are automatically queued and matched as soon as they enter the order book and a counterpart can be found.
12:00-1:29 PM	Market Recess	No orders can be posted. No orders can be modified and cancelled.
1:30 PM	Continuous Trading	All orders are automatically queued and matched as soon as they enter the order book and a counterpart can be found.
3:15 PM	Market Pre-Close	Orders are accepted but no matching occurs.
3:20 PM	Closing	Closing prices are calculated. No cancellation of orders.
3:20 PM	Run-off or Trading At Last	Closing prices are calculated. No cancellation of orders.
3:30 PM	Market Close

Can I still trade during off-hours?
Yes, off-hours posting of orders are available.

What are the rules in posting an order?
The price of an order should always be within the Trading Thresholds. The Ceiling price is determined as 50% of previous day’s trade while the Floor price is 50% of previous day’s trade. You may look up the Stock Info Icon (or click on F10) to view Ceiling and Floor prices.

Please note the following:
Combining Normal and Odd Lot orders is not allowed.
Partial matching of odd lot orders will be allowed.
Odd lot orders will no longer be subjected to minimum commission.
Odd lot order posting will only be allowed during Continuous Trading Period.
Odd lot market will have its own closing price but will adopt the price of the Normal market during opening.

Do you impose a minimum volume per trade?
Trading on the Philippine Stock Exchange is done by board lot or round lot system. Therefore, the minimum number of shares you can buy or sell will depend on the market price of the stock at the time you place your order. Also, price fluctuations are not uniform, but are dependent on the cprice range where the stock is trading.

Odd Lots are traded on the Odd Lot board.

Can I cancel an order?
Yes, an order may be cancelled as long as it hasn’t been matched. It is important to know that the request to cancel an order cannot be guaranteed, as your order may have already been fulfilled or partially fulfilled by the time the cancel request reaches the market. If your order has been partially fulfilled, you may cancel only the unfulfilled portion. To cancel an order, select the order you wish to cancel.

Can I sell my investments on the same day that I bought them?
Yes, for stock purchases, these are already reflected in your online stock position and are available for sale. To view your stock position online, View Personal Portfolio. Note that QtyOnHand reflects total no. of holdings. If you have posted a portion of your holdings as a sell order, this amount will reflect under QueueSell while the balance (unposted holdings) will be reflected under QtyAvailable.

If I sell today, can I already use the proceeds to buy?
Proceeds of your selling transaction will only be credited on T+3 (three business days after the transaction date) following the Settlement Rule. However, you may post a buy order against incoming sell proceeds as reflected in your Balance Limit (as labeled in Personal Portfolio) or Trading Limit (as labeled in the order pad). Note that you must sell your holdings first to match the amount required for your purchase.

BOARD LOT AND PRICE FLUCTUATION TABLE
PRICE	TICK SIZE	LOT SIZE
0.0001 to 0.0099	0.0001	1,000,000
0.0100 to 0.0490	0.001	100,000
0.0500 to 0.2490	0.001	10,000
0.2500 to 0.4950	0.005	10,000
0.5000 to 4.9900	0.01	1,000
5.0000 to 9.9900	0.01	100
10.0000 to 19.9800	0.02	100
20.0000 to 49.9500	0.05	100
50.0000 to 99.9500	0.05	100
100.1000 to 199.9000	0.1	10
200.2000 to 499.8000	0.2	10
500.5000 to 999.5000	0.5	10
1000.000 to 1999.000	1	5
2000.000 to 4998.000	2	5
5000.000 to UP	5	5

How much does it cost to buy and sell shares of stock?

BUY Transaction
Commission:	0.25% on the gross value or a minimum commission of Php20.00
Value Added Tax:	12% is levied on the commission charge
PSE fee:	Php0.00012 for every Php1.00 gross value traded
SCCP fee:	Php0.00011 for every Php1.00 gross value traded

SELL Transaction
Commission:	0.25% on the gross value or a minimum commission of Php20.00
Value Added Tax:	12% is levied on the commission charge
PSE fee:	Php0.00012 for every Php1.00 gross value traded
SCCP fee:	Php0.00011 for every Php1.00 gross value traded
Sales Tax:	0.50% on the gross value

Monthly Fee
A PDTC Depositary Maintenance Fee of PhP 0.00000833 for every Peso market value of your holdings as of month end will be debited from your account monthly.

How do I pay for my purchases?
The funds that are deposited into your iTRADE account will be used to pay for your purchases. Before a buy order can be accepted, you must have sufficient cleared funds in your iTRADE account. To find out how much you still have available for trading, you may go to Personal Portfolio screen and look for Balance Limit, found under your stock position list. Your balance limit can also be seen in your order pad, it is labeled as Trading Limit, found in the field after Account No.

When is my iTrade Account debited for purchases?
Your iTrade account will be debited on settlement date, which is T+3 (three trading days after the transaction date).