Prepared a blueprint for the unification of the two existing exchanges into one national Exchange. The scope of this work included: producing a blueprint for the unification of the two existing stock exchanges; recommending the most appropriate technology systems for the unified exchange including both the Trading System and the Central Depository; reviewing the existing listing rules and regulatory framework and identification of changes necessary for the implementation of a unified exchange.

Advised the Philippine Central Depository corporation on the establishment of a fully-electronic central depository and book-entry settlement system for both equity and debt securities in the Philippines. The scope of this work included: preparing a market operations report and a full Request for Proposals, which included a Functional Specification for the settlement system; preparing the evaluation criteria for evaluating the vendors' responses; preparing a legal issues report to identify the legal requirements for the introduction of the system; drafting a business plan to assist the PCD to obtain equity investors in the project; prepared a report for the board, acting as project monitor.

Reviewed debt and equity securities market regulations, operations, and performance.

Contributed to the design of an exchange for small and medium size enterprises.