New hedging tools needed in the Philippines, says SEC

New derivative structures under consideration but caution is key

Regulators in Manila are focusing on repo and OIS

Increasing appetite for longer-term debt combined with the possibility of a rise in interest rates is making the Philippines securities regulator nervous. They know that new hedging tools are needed, but derivatives misuse, blamed for crises in the past, has left an unsavoury taste in many mouths.

"You might say that our capital markets are at a fairly nascent stage of development and I suppose they are," says Ephyro Amatong, one of four commissioners in the Securities and Exchange Commission

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