skip to Main Content


Quick answers for everything that you wanted to know.

Investing and Order Processing

All non-suspended Peso-denominated stocks may be traded using the MSI 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.

Trading Hours are scheduled between Monday to Friday (excluding declared holidays) with the following timetable:


Time Period Activity
9:00 AM - 9:14 AM Pre-Open Enter, Cancel or Modify Orders

No matching of orders

9:15 AM– 9:29 AM Pre-Open No-Cancel Enter Orders Only; Cancel or Modify no longer allowed

No matching of orders

9:30 AM Market Open Market Freeze to match Pre-open orders and determine Open Price
9:30 AM -12:00 NN Continuous Trading Enter, Cancel or Modify Orders, including odd-lots
12:00 NN – 12:59 PM Market Recess Enter Orders Only; Cancel or Modify no longer allowed

No matching of orders

1:00 PM Market Resumes Enter, Cancel or Modify Orders, including odd-lots
2:45 PM – 2:47 PM Pre-Close Auction Enter, Modify or Cancel Orders
2:48 PM – 2:50 PM Run off No Cancellations Allowed
2:50 PM – 3:00 PM Trading-at-Last Buy and Sell Orders at Closing Price
3:00 PM Market Close

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 3:00 PM. If you are 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 – “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, and 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 (e.g. Rights, Tender Offer, and Dividends).

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 3:01 PM to 11:59 PM. For orders during market activity, you may post from 9:00am-12:00nn and 1:00pm-3:00pm

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.

Normal Board Lot
Each stock may trade at a different minimum tranche 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 to 0.0099    0.0001    1,000,000 
0.01 to 0.049     0.001   100,000
0.05 to 0.249    0.001   10,000
0.25 to 0.495    0.005   10,000
0.50 to 4.99    0.01   1,000
5 to 9.99    0.01   100
10 to 19.98    0.02   100
20 to 49.95    0.05   100
50 to 99.95    0.05   10
100 to 199.9    0.1   10
200 to 499.8    0.2   10
500 to 999.5    0.5   10
1000 to 1999    1   5
2000 to 4998    2   5
5000 to Up    5   5

You may check your completed transactions in the trading platform. Go to Orders and check the Execution History. However, the platform’s execution history only covers transactions made in the last 2 weeks.

You may also refer to your monthly statement of account for all confirmed orders. Otherwise, you may email us your request for an account ledger for a specific period at

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.

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.

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 02:48 to 02:50 PM. Make sure that you are not cancelling your orders at this time.

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.

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.

Back To Top