Letter of Credit Lyonnais Securities Philippines, Inc. Regarding Settlements Outsourcing Contract
PSE Memo for Brokers No. 103-98 • Philippine Stock Exchange • Memo for Brokers • Mar 3, 1998
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March 3, 1998 PSE MEMO FOR BROKERS NO. 103-98 SUBJECT : Letter of Credit Lyonnais Securities Philippines, Inc. Regarding Settlements Outsourcing Contract Quoted hereunder is a notice from CREDIT LYONNAIS SECURITIES PHILIPPINES, INC . received on February 27, 1998: ". . ., this serves as notification that we have concluded our settlements outsourcing contract with Deutsche Bank AG Manila (DBMN) with effect from 02 March 1998. Therefore, with effect from this date, the settlements processing will be handled in-house by our own staff. All authorities previously granted to DBMN to act, sign and perform clearing and settlement of transactions entered into by ourselves have since been rescinded with effect from 02 March 1998. . . cdll For your information and guidance. (SGD.) RAFAEL L. LLAVE Chief Operating Officer
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