PHL financial markets allowed to open amid Luzon-wide enhanced quarantine

(File photo) A trader talks on the phone while in front of an electronic stocks index at the trading floor of the Philippine Stock Exchange at the financial district of Manila on September 2, 2009. AFP PHOTO/TED ALJIBE (Photo by TED ALJIBE / AFP)


(Eagle News) – The Philippine government has now allowed financial markets to re-open amid the Luzon-wide enhanced community quarantine due to the coronavirus outbreak.

In a joint statement, the Department of Finance (DOF) and the Bangko Sentral ng Pilipinas (BSP) said that the Inter-Agency Task Force (IATF) on Emerging Infectious Diseases had already issued an exemption for the Philippine Stock Exchange (PSE), Philippine Dealing & Exchange Corp. (PDEX), Philippine Depository & Trust Corp., and Philippine Securities Settlement Corporation.

It said that the IATF in its meeting later in the day of March 17, “granted the trading platforms exemption from the enhanced quarantine measures.”

This was after they assured the authorities that they have enforced necessary safeguards to ensure the safety of their employees and the community they interact with.

“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,” the statement said.

On Tuesday, March 17, the PSE and other financial platforms suspended operations following the order of President Rodrigo Duterte placing the entire Luzon under enhanced community quarantine.

Later, in the day, the IATF issued exemptions for their operations.

The PSE on Wednesday, March 18, issued a statement saying that they will resume operations on Thursday, March 19, but will have shortened trading hours.