The Philippine Depository & Trust Corp. (PDTC), a subsidiary of the Philippines Dealing System (PDS) Group, provides depository, custody and registry services to the Philippines capital markets and supports multiple asset classes such as equities, government securities and private debt securities.
PDTC was looking to expand its market services from being purely an equities depository servicing institutional clients within the nation’s capital, to other securities book-entry services in the areas of custody, registry, clearing and settlement for fixed income securities, and servicing both institutional and retail segments throughout the country.
PDTC selected the Market Infrastructure solution from TCS BaNCS to attain this objective. The Market Infrastructure solution from TCS BaNCS enabled PDTC to support multi-asset class (equities, government securities and private debt securities) securities safekeeping and settlement and offered a wide range of core and value-added services for immobilized and scrip-less securities. The implementation resulted in the inclusion of a much wider customer segment in terms of retail (through intermediaries)as well as institutional participation nationwide, and the provision of new business services that could support other organized market programs such as repo and securities lending and borrowing, and a transition to full electronic delivery vs. payment settlement for debt segments.