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The Revised PH Model Code

Course Name The Revised PH Model Code
Integrating updates from the ACI Model Code 2013 and BSP Circular No. CL-2010-13

To inquire more about our courses, you may call our Program Sales Officers at 830.20.50 or email us at

Price: Php 8,850

The PH Model Code is based on and distilled from the following recognized codes that are substantially convergent and practically applicable to the Philippine Treasury markets and products:

  • The ACI Model Code 2013: as a global minimum standard
  • BSP Circular No. CL-2010-13: Code of Ethics Governing Financial Activities in the Philippines as a regulatory frame work
  • Ateneo-BAP Institute of Banking Treasury Certification Program Module on The Philippine Code of Conduct & Market Practices for Treasury Activities: for ethical standards and trading conventions grounded on “timeless values”

This will serve as “self-regulating” guidelines for the local ACI-FMA and MART to build on and to adapt, in order to promote best practices and market professionalism covering over-the-counter (OTC) foreign exchange, money market and their select derivatives


To contribute to the market development and professionalism as an integral module of the Ateneo-BAP Institute of Banking Treasury Certification Program. This emphasizes behavior and conduct of Treasury market participants to adhere to a moral compass and global set of standards that are universally applicable and to conform to the local trading conventions covering the individual markets they trade in, focused on the front-office and dealing activities.

Who should attend
Certified Treasury Professionals or Associates TCP Batches 1-64 whose
exposure to the Model Code is to the first version. This updated, BAP-approved The PH Model Code incorporates The Model Code (published by the global ACI-FMA 2013), BSP Circular No. CL-2010-13 with the previous 1997 version of our Model Code.

Business Hours

  • Market Opening and Closing Hours
  • After-Hours and Off-Hours Dealing
  • Holidays
  • Market Disruption

Company-Wide Issues

  • Personal Conduct
  • General Personal Conduct
  • Drugs, Alcohol and Substance Abuse
  • Gambling/Betting between Market Participants
  • Entertainment and Gifts
  • Dealing for Personal Account
  • Misinformation and Rumors
  • Confidentiality
  • Customer Relationship, Advice and Liability


  • Segregation of Duties
  • Independent Risk Controls
  • Terms and Documentation

The Front Office

Dealers and Dealing Room

  • Role of Broker/Dealer
  • Dealing Room Security
  • Retaining Phone Conversations and Electronic Messages
  • Authorization and Responsibility for Dealing Activity
  • Dealing at Non-Current Rates and Rollovers
  • Dealing Quotations, Firmness, Qualification and Reference
  • Dealing Reciprocity in the Relevant Markets
  • Stop-Loss Orders
  • Position Parking
  • Rate Setting

Dealing Through Brokers (Voice Brokers and Electronic Broking Platforms)

  • Differences Between Brokers and Principals
  • Qualifying and Preliminary Dealing Procedures
  • Consummation of a Deal
  • Commission on Broking
  • Passing of Names
  • Name Substitution

Post-trade Standards  and Practices

  • Confirmation of Trades
  • Netting
  • Settlements


  • Fraud
  • Money Laundering and Terrorist
  • Financing


  • Key Market Terminology
  • General Risk Management Principles
















Resource Speakers
Mr. Roy B. Lacsamana

is a global facilitative trainer for the Money & Capital Markets, Foreign Exchange, Essentials of Financial Derivatives, Enterprise Risk Management, Global Trade & Finance, Elliott Wave Analysis, Counterparty Credit Risk, Credit Valuation Adjustment and Market Value at Risk, Applied Quantitative Finance courses, for Central Banks, SEC, universal banks, financial institutions, multinational corporations, local conglomerates, business schools, professional associations, shared services, private individuals conducted in key Asian, Middle Eastern and European financial centers. 

He certifies Money Market and Foreign Exchange traders thru the BAP-Institute of Banking Treasury Certification Program, facilitates the Ateneo-BAP Institute of Banking Treasury Operations Certificate Program, designs and develops e-learning courses.

Mr. Lacsamana is also the author of the BAP FX Accounting Manual, Corporate Risk 

Management Manual, Debt and Fund Management Policy Manuals, The PH Code of Conduct and Market Practices (The PH Model Code) for Treasury Activities, and The Global Finance Professional Training Program. He is also co-author of the BAP Financial Market Risk Reference Manual.

Mr.Lacsamana is fascinated and has fun with Fibonacci, the Fingerprint of God.