BTCExchange.ph is a white label exchange, meaning it is based in another country and you can buy a license or something to operate in your own country or anywhere. Their volume shown on the site is worldwide for all exchanges connected to the main one.
We are sad to notify you of our intentions to stop our service. Your remaining peso balance has been converted to BTC as per our announcement on April 11. You will be able to withdraw your bitcoin to external wallets until May 1, after which the service will be shut down completely and taken offline.
We strongly urge you to withdraw your bitcoin IMMEDIATELY!
The team would like to thank you for your patronage.
It's a pity, since they are one of the few "real" exchanges, not based on one buy/sell price, but one where you can place bids above or below market.