Stock exchange operator NYSE Euronext and the Philippine Stock Exchange (PSE) have signed a memorandum of understanding (MOU), under which the two firms will explore new opportunities in trading system architecture and technology, exchange traded products, market participant connectivity and market data management.
“We are committed to the success of this alliance, which will benefit and create growth opportunities for both markets and their respective customers,” said Duncan Niederauer, CEO, NYSE Euronext, in a statement.
PSE chairman Jose Vitug added, “The MOU will provide us a common base to explore together a whole new frontier of opportunities, from which we can re-energise our markets for future waves of growth.”
The MOU also covers the PSE’s intention to purchase new trading system technology from NYSE Euronext and its affiliates, which was announced in April.
“Each possible area of mutual cooperation identified in the MOU will hopefully serve as guide in pursuing definitive agreements in the future,” said Francis Ed. Lim, president and CEO, PSE. “This represents the recognition of each party of the important role that the other will play in developing our respective stock markets.”