Manila Banks Seek FX System Change; Look To End Mandatory Use Of PDS
DEALING ROOM SYSTEMS
In a meeting held one week ago in Manila, the Bankers Association of the Philippines (BAP) agreed to recommend a shift towards a more open FX dealing system for the Philippines. A four-member team from the BAP will meet this week with Philippine central bankers to discuss the proposed changes. Should the central bank adopt the group's suggestions, banks would no longer be required to report all dollar/peso deals through Telerate's Philippine Dealing System (PDS) electronic FX dealing and
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