The Philippine Stock Exchange, Inc. operates as a stock exchange in the Philippines. It provides clearance and settlement agency services for trades executed through the facilities of the company, as well as depository and information services for the equity market. The company is also involved in the synchronizing the settlement of funds for transactions of clearing members and the transfer of securities; administration of the Clearing and Trade Guaranty Fund, and guaranteeing the settlement of trade in the event of a trading participant's default; and performance of risk management and monitoring activities to ensure settlement. It also operates as the independent audit, surveillance, and compliance unit to ensure the integrity of the capital market, and investigate trading-related irregularities and unusual trading activities committed by issuers. The Philippine Stock Exchange, Inc. was founded in 1927 and is based in Taguig City, the Philippines.