Security Bank, First Metro bag Virata awards

MANILA, Philippines—For the seventh straight year, Security Bank has won the 2011 “Best Securities House” also known as the Cesar EA Virata Award, given annually by the Philippine Dealing System Holdings Corp. and Subsidiaries group for the banking category.

First Metro Investment Corp. bagged the Cesar EA Virata award for the newly created investment house category.

The awards were named in honor of former Prime Minister Cesar Virata, a veteran banker who was a key proponent of the establishment of the fixed-income trading platform in the country now operated by PDS’ unit, Philippine Dealing and Exchange Corp.

For the bank category, the award is given to a bank trading participant that had an “exceptional” performance in trading, distribution and settlement activities. Security Bank has won this award every single year since the annual PDS awards started in 2006.

The newly created category for investment house is given to an investment house trading participant that had an exceptional performance in trading and distribution as well as in the origination, underwriting and market-making of outstanding listed corporate securities.

PDS chair Vicente Castillo said this new category was created because the corporate bond market was growing significantly and investment houses were playing a bigger role in the capital market.