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MANILA, Philippines - The Securities and Exchange Commission will come up with the rules on exchange-traded funds and securities borrowing and lending in June, expanding the list of financial instruments that investors can choose from.
"We're just putting extra safeguards,” SEC chairperson Teresita Herbosa said, adding that she has been pushing for the creation of these financial instruments since she assumed office in April last year.
Considered as the world's fastest-growing asset class, an ETF is an investment instrument that tracks the performance of an asset or basket of assets, and is traded much like a stock on an exchange.
SBL transactions, on the other hand, involve the lending of securities to a borrower, who needs the stocks to support settlement obligations or trading strategies.
The introduction of these new instruments in the market will allow the Philippine Stock Exchange to surpass its nearly P200-billion target amount of capital raised in the bourse.
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