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How To Use The "PSE Board Lot Table"
How To Use The "PSE Board Lot Table"
How much money is needed to start trading stocks in the Philippine Stock Exchange
(PSE)? How many shares of Globe Telecom (GLO), PXP Energy Corp. (PXP), DITO
CME Holdings (DITO), or Megaworld (MEG) can I buy or sell at any given time?
You probably don’t know it, but these questions can be answered by simply looking at
what is called the PSE Board Lot Table.
Article Guide
What is the PSE Board Lot Table?
How to Read the PSE Board Lot Table
3 Uses of the PSE Board Lot Table
o 1. What’s the Minimum Number of Shares I can buy (or sell) in the
PSE?
o 2. What’s the allowed Stock Price Changes in the PSE?
o 3. How much money needed to invest in the PSE?
The Board Lot table of the Philippine Stock Exchange (PSE) is a guide for investors that
shows the:
1. Minimum number of shares that can be bought or sold at any given time;
and
2. Minimum price increments of each traded stock in the PSE.
Here’s what the PSE Board Lot table looks like.
M P1,000.00 - P1.00 5
1,999.00
N P2,000.00 - P2.00 5
4,998.00
O P5,000.00 - P5.00 5
above
Meanwhile, the “Board Lot” column represents the minimum number of shares that can
be traded depending on the stock’s current price. So, if for example, the required board
lot is 1,000 — as in Row E — you can buy or sell stocks as long as the number is
divisible by 1,000. This means you can buy 2,000 shares or 5,000 shares or even 30,000
shares.
We’ll see a clearer application of the Board Lot in our practical examples below.
For now, just take note that this table governs only “Normal Lot” trades in the PSE. The
“Normal Lot” is still slightly different from the “Odd Lot” market, which we will
discuss in a separate article.
Don’t worry for now because in most cases you’ll just be trading “normally” so you only
need to understand the “Normal Lot” version of the PSE Board Lot table.
Can you sell just 2 shares of GLO? No! How about buying 120 shares of GLO? That’s
possible because 120 is divisible by 5.
Easy, right? Let’s move on to the next application of the Board Lot table.
To determine the allowed price increment or price change for any give PSE-traded stock,
use the Board Lot Table and check the Tick Size or Minimum Fluctuations column.
Follow this step-by-step guide if you need more details.
Step 1: Get the current price of the stock. Just like in Example 1 above, you can check
the PSE website or your broker’s website to get the current price of your stock. In the
case of SMPH, let’s assume its current stock price is P36.15.
Step 2: Check the row in the PSE Board Lot table corresponding to this stock
price. If SMPH’s stock price is P36.15, which row in the Board Lot table corresponds to
this price?
If you answered “Row H”, you are correct. SMPH’s stock price is within the price range
of that row (P20.00 to P49.95), so we will use this row in Step 3.
Step 3: Determine the Minimum Price Fluctuations (Tick Size) for that stock. The
“Tick Size” column represents the minimum price change or price increment for any
given stock.
With SMPH trading at P36.15 per share, the relevant row is “Row H” which tells us that
the tick size is PHP 0.05. This means the allowed prices to buy or sell SMPH must be in
increments of or divisible by 0.05.
So, going back to the question earlier: can you sell SMPH at a price of P36.08? Since it’s
not divisible by 0.05, this is not allowed.
Can you sell it at P36.25? Yes! Since this price is divisible by 0.05, SMPH can be sold at
this price!
But take note, whether the sale will be a done trade will, of course, depend on the
presence of buyers willing to purchase SMPH shares at your asking price.
As you can see, knowing the Board Lot Table is especially useful if you want to input
your own preferred buying or selling price of a stock.
Take note that stockbrokers such as COL Financial, BPI Trade, PhilStocks, BDO
Nomura, First Metro Securities, etc. charge certain fees and commissions so this amount
will surely increase.
Read our article on PSE Stock Trading Fees and Charges to find out what these
specific fees and charges are.
Also, be informed that some stock brokers require that you fund your trading account a
minimum amount of money before you can start trading. This amount is usually higher
than the minimum amount of money you need to buy a particular stock.
Find out the minimum amount needed to fund your broker’s trading account in the
article Survey: Best Online Stock Brokers in the Philippines?.
Congratulation! Now you know how to use the PSE Board Lot table. Happy investing!