Philippine Stock Exchange, Inc. engages in the operation and regulation of the Philippine equities market. The firm's revenues are primarily derived from listing-related and trading related fees. The company charges listing fees for initial public offerings and additional listings, and annual listing maintenance. The firm's trading revenues are primarily comprised of transaction fees, subscription fees, and service fees related to clearing and settlement. Its subsidiaries are Securities Clearing Corporation of the Philippines (SCCP) and Capital Markets Integrity Corporation (CMIC). SCCP is a clearance and settlement agency for SCCP-eligible trades executed through the facilities of the Company. SCCP is responsible for the synchronization of the settlement of funds for transactions of clearing members and the transfer of securities. CMIC functions as the independent audit, surveillance, and compliance unit of the Company. CMIC operates to ensure the integrity of the capital market and has jurisdiction to investigate various violations.
