Government securities eligible dealers (GSEDs) are licensed by the Securities and Exchange Commission (SEC), and regulated by the SEC, Bangko Sentral ng Pilipinas (BSP), and the Insurance Commission. GSEDs are allowed by the Bureau of the Treasury to participate in primary auctions of government bonds on a competitive basis. There are 41 authorized GSEDs. A list of these authorized dealers can be found by following the link provided below.

In December 2006, the rules governing over-the-counter (OTC) market transactions became effective. Individual investors are permitted to conduct buy-and-sell transactions through registered brokers. A one-year transition period expired at the end of December 2007, at which time individual investors were allowed to deal only with duly-licensed SEC brokers in the secondary market.

The OTC rule requires membership in a self-regulatory organization, comprising brokers and dealers, as a condition for engaging in OTC transactions. To date, only the Philippine Dealing and Exchange Corp (PDEx) has applied to act as a self-regulatory organization for its members after the extension of the transition period until 31 January 2008. A list of PDEx dealing and brokering participants can be found by following the link provided below.