The Philippines Insurance Commission, other financial regulators and market participants have announced that peso-denominated government and corporate bonds will adopt the international pricing convention for settlement purposes from Jan. 4, 2027. The change advances previously disclosed work to standardize bond pricing and is intended to make Philippine bonds easier for global investors to buy and trade, ahead of the inclusion of peso-denominated government bonds in J.P. Morgan’s Government Bond Index-Emerging Markets series on Jan. 29, 2027. Relevant regulations and systems are expected to be ready by the end of 2026, with financial institutions and market participants conducting transition activities from Jan. 1 to Jan. 3, 2027. The revised convention will be incorporated into the Philippine Dealing and Exchange Corp.’s fixed-income market rules and trading conventions. Some investors may see changes in the calculation of settlement values, but bond terms, tax obligations, coupon payments and principal repayments will remain unchanged. Investors holding bonds to maturity will experience no actual impact.

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