I. Objective Of The Rules
        These rules shall serve as the standard method, procedure or behavior for all Fixing Banks, who have agreed to abide by these Rules in conducting trades through the designated trading system, as adopted by the Board of Directors of the Money Market Association of the Philippines ("MART") through a Board Resolution dated the ___ day of ________.


II. Pre-Qualifications
To participate in the rate fixing process and the live GS trading system, Government Securities Eligible Dealers (GSEDs) and Primary Dealers shall meet the following requirements:
  1. Enrollment in the Registry of Scripless Securities (ROSS) with the Bureau of Treasury (BTr)
  2. A Demand Deposit Account (DDA) with the Bangko Sentral ng Pilipinas (BSP), or a cash settlement and clearing arrangement with a correspondent bank that has a DDA with the BSP. This correspondent bank should agree to act as the settlement agent for the cash portion of GS trades of the GSED.
  3. Subscription to the designated trading system
  4. Commitment to give a firm price for all On-the-Run current GS issues on bills, notes and bonds
  5. Should be able to trade the minimum lot with at least five (5) member-fixing banks on the bid and the offer
  6. Should have the necessary credit risk policies in place to deal in government securities
  7. Exhibit genuine willingness to be an active player in the GS market

III. Trading Hours
Trading hours from Monday to Friday shall be from 9:30 A.M. till 12:00 noon. Mapping of done deals shall be until 1:00 PM, and the official fixing will be at 1:01 P.M. Afternoon trading hours shall be from 2:30 P.M. to 4:00 P.M. Afternoon done deals shall be mapped the following business day no later than 9:30 AM.


IV. Commitments Of Fixing Banks
Fixing Banks who trade GS through the designated trading system shall commit to do the following:
  1. Abide by all covenants, agreements, rules and guidelines established by the MART contained herein;
  2. Subscribe to the trading platform and necessary information service designated as the trading system for GS;
  3. Maintain and update a contributor page, with their firm quotes during the official trading hours;
  4. Honor its commitment to deal at its quoted price subject to its credit limits;
  5. Ensure compliance with the current MART trading conventions;
  6. Use the designated trading system when dealing with other fixing banks and ensure that all deals are captured and included in the done trade summary;
  7. Fixing Banks assigned as officer of the week shall assume all duties and responsibilities inherent to the position