PHILIPPINE Dealing and Exchange Corp. (PDEx) will launch a new derivative product next week, the country's first peso-denominated interest rate hedge, that will allow investors to reduce risks.
PHILIPPINE Dealing and Exchange Corp. will launch a new derivative product next week, the country's first peso-denominated interest rate hedge, that will allow investors to reduce risks.PDEx President and CEO Antonino Nakpil told reporters on Monday that it would first be offered to banks beginning Feb. 3.A market framework and infrastructure for the instruments was approved by the Securities and Exchange Commission on Jan. 2.
'It's a derivative, it's a new thing. It will be settled in a way I think that's unique we're not creating a futures contract like the traditional sense,' Nakpil said.Based on reports, the hedge product will be traded in lots of P50 million.'We're using a forward OTC forward expression of that. We'll see if it works. We think it will work,' Nakpil said.
To Launch Interest Rate Hedge Next Week
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