NY bourse operator seen to invest in RP exchange

PARTIES INITIALLY SIGN TECHNOLOGY TIE-UP

By Honey Madrilejos-Reyes

STOCK exchange operator, NYSE Euronext Inc., is interested in investing in the Philippine Stock Exchange (PSE).

“Of course, but it’s not for me to say,” said PSE president and chief executive Francis Lim when asked of the New York-based potential entry in the local bourse.

“We will work toward that end. At least the foundation has been laid through the memorandum of understanding [MOU],” he added.

The two parties signed last month a 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.

The MOU, signed at the New York Stock Exchange (NYSE) and witnessed by President Arroyo, also covers the PSE’s intention to purchase a new trading system technology from NYSE Euronext and its affiliates.

“We welcome this opportunity to partner with chairman Jose Vitug and his colleagues at the PSE,” said NYSE Euronext chief executive Duncan Niederauer.

According to Lim, each possible area of mutual cooperation identified in the MOU may serve as guide in pursuing definitive agreements in the future. This represents the recognition of each party of the important role that the other will play in developing their respective stock markets.

Under the terms, areas of possible cooperation involve the sharing of information and experience on new stock markets products and services.

NYSE Euronext operates the world’s leading and most liquid exchange group. Its family of exchanges, located in six countries, include the New York Stock Exchange, the world’s largest cash equities market; Euronext, the Eurozone’s largest cash equities market; Liffe, Europe’s leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing US  options trading platforms.

NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, exchange-traded funds, bonds, market data and commercial- technology solutions.

NYSE Euronext’s nearly 4,000 listed companies represent a combined $30.5 trillion in total global market capitalization, more than four times that of any other exchange group. NYSE Euronext’s equity exchanges transact an average daily trading value of approximately $141 billion, which represents more than one-third of the world’s cash equities trading.

NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index.

NY bourse operator seen to invest in RP exchange

PARTIES INITIALLY SIGN TECHNOLOGY TIE-UP

STOCK exchange operator, NYSE Euronext Inc., is interested in investing in the Philippine Stock Exchange (PSE).

“Of course, but it’s not for me to say,” said PSE president and chief executive Francis Lim when asked of the New York-based potential entry in the local bourse.

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