The Philippine Stock Exchange (PSE), Southeast Asia's oldest stock market, and the New York Stock Exchange (NYSE) Euronext, the world's biggest bourse, signed yesterday (June 26) a memorandum of understanding (MOU) that establishes cooperation between the two exchange companies to explore new opportunities in trading system architecture and technology, exchange traded products, market participant connectivity and market data management. It also covers the PSE's intention to purchase new trading system technology from NYSE Euronext and its affiliates. The MOU was signed in New York by NYSE Euronext Chief Executive Officer Duncan L. Niederauer and PSE Chairman Jose C. Vitug.
Under the terms of the MOU, areas of possible cooperation involve the sharing of information and experience on new stock markets products and services. The MOU also embodies the common goal of both companies to provide investors worldwide protection and operating fair, orderly and efficient markets. The MOU was drafted in the spirit that international cooperation between the two exchange companies will facilitate the development and efficient operation of all securities markets operated by the exchange groups.
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