Investing and Order Processing

  1. All non-suspended Peso-denominated stocks may be traded using the MakeTrade platform.
     
    PSE can suspend trading of a stock from time to time because of material corporate disclosure or any violations against PSE rules by the company.  All suspended stocks are non-tradeable until the suspension is officially lifted by the Exchange.
     
  2. Trading Hours are scheduled between Monday to Friday (excluding declared holidays)  with the following timetable:
     
    Time Period Activity
    9:00 AM Pre-Open Enter, Cancel or Modify Orders
    No matching of orders
    9:15 – 9:30 AM Pre-Open No-Cancel Enter Orders Only; Cancel or Modify no longer allowed
    No matching of orders
    9:30 AM Market Opens Market Freeze to match Pre-open orders and determine Open Price
    9:30 AM -12:00NN Continuous Trading Enter, Cancel or Modify Orders, including odd-lots
    12:00 NN – 1:30 PM Market Recess Enter Orders Only; Cancel or Modify no longer allowed
    No matching of orders
    1:30 PM Market Resumes Enter, Cancel or Modify Orders, including odd-lots
    3:15 – 3:17 PM Pre-Close Auction Enter, Modify or Cancel Orders
    3:18 – 3:20 PM Pre-Close Auction No Cancellations or Modifications Allowed
    3:20 – 3:30 PM Trading-at-Last Buy and Sell Orders at Closing Price
    3:30 PM Market Close  
  3. Listed below are the different order types available in our platform:
     
    DAY - Day Limit Order is only valid until the end of the trading day at 3:30 PM. If your buying or selling order is not matched during the day, this will automatically be cancelled and will have to be reposted by the investor on the next trading day.
     
    GTC - the “Good Till Cancelled” orders are limit orders which are valid until cancelled or until it has reached the set expiration date of the security. GTC orders may automatically be cancelled by the system when a stock has a Corporate Action (e.g. Rights, Tender Offer, Dividends).
     
    GTD – “Good Till Date” limit order is valid until the date you specified. .GTD orders may  automatically be cancelled by the system when a stock has a Corporate Action.
     
    NEXT DAY – the Next Day Order is a limit order that would allow you to enter orders after closing in preparation for the next trading day. Next Day orders can be placed from 3:31 PM to 11:59 PM. For orders during market activity, you may post from 9:00am-12:00nn and 1:30pm-3:30pm
     
    ICEBERG (Optional) - Iceberg Orders are posted when you want to keep the order hidden from the market. Posting Iceberg orders is encouraged when the order to be posted is significantly large. You will be required to enter a disclosed order size, which must be at least 10% of the total order size. Take note that in an Iceberg order, the disclosed order size will be executed first; the rest of the order size will be re-queued upon match of the disclosed order.
     
  4. Normal Board Lot
    Each stock may trade at different minimum tranches depending on its market price, called Board Lot Size. If a stock's board lot is 1,000 then that is the minimum amount of shares that can be traded and should also be traded in scales of 1,000. For example, an order to buy a stock with a board lot of 100 will reject an order to buy 50, or 30; but will accept 100, 200 and above as long as it is divisible by 100.
     
    You may trade in the Normal Board Lot in the NORM board. All Shares in the Normal Board Lot have security tag “XPSE” directly. For example, for an Ayala Corp (AC) stock at the Normal Board Lot, you may select “AC.XPSE” in the trading platform.
     
    Odd Lot
    Any amount of shares not divisible by a minimum board lot is called an Odd lot. Odd lots are traded at the Odd Lot board which are usually illiquid and often priced at a discount to the current market price of the stock.  
     
    Odd Lot shares are tagged with ”OD” in the trading platform. For example, an Ayala Corp (AC) stock at the Odd Lot board will have a label of “AC.OD.XPSE”.
     
    *The table below identifies the Board Lot size based on stock price and the corresponding tick sizes.

     
    Price Range Tick Size Board Lot
    0.0001 0.0099 0.0001 1,000,000
    0.01 0.049 0.001 100,000
    0.05 0.249 0.001 10,000
    0.25 0.495 0.005 10,000
    0.5 4.99 0.01 1,000
    5 9.99 0.01 100
    10 19.98 0.02 100
    20 49.95 0.05 100
    50 99.95 0.05 10
    100 199.9 0.1 10
    200 499.8 0.2 10
    500 999.5 0.5 10
    1000 1999 1 5
    2000 4998 2 5
    5000 Up 5 5
     
  5. a.    All your previous orders would appear in the Blotter Tab
    b.    Unfortunately, orders posted before May 25, 2018 will no longer be viewable. If you need assistance in your previous transactions, please call us at 3285888 or email us at support@maketrade.com.ph. We are always happy to help you out.
  6. Yes. There’s no need to wait for three days (T+3) to buy a stock using your proceeds, even if it is the same stock.
     
  7. The order can get rejected due to any of the following reasons:
    a.    You may have insufficient funds available at the time you were trying to post your buy order.
    b.    You may have been posting shares not available in your portfolio.
    c.    You may have posted an order but is still queued or is a GTC or GTD order

    A posted order, even if it is not completely filled or placed in a GTC /GTD order will temporarily lock out your available cash as it earmarked it for that transaction. You need to cancel the order for the cash to return to your account balance. 

    This is also similar to a sell order. Once the shares are posted and is unfilled, you need to cancel the sell order first before the shares will be unlocked by the system. 
     
  8. The stock market has a designated time period where cancelling orders are not allowed.. This is between the Pre-Open period from 09:15 to 09:30 AM or during the Pre-Close period from 03:18 to 03:20 PM. Make sure that you are not cancelling your orders at this time.
     
  9. Yes you can. You can call us anytime during trading hours from 9:00 AM to 5:00 PM on trading days. We call this service Broker – Assisted and we do not charge a higher commission rate for this service.
     
  10. GTC orders get cancelled by the Exchange when there’s a corporate action that is about to take place such as a Stock Rights Offering or Stock Dividends during the day or it may be due to Change in Lot Size.