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SINGAPORE, Mar 13, 2013 - (ACN Newswire) - Singapore Exchange (SGX) and The Philippine Stock Exchange (PSE) have entered into a Memorandum of Understanding (MOU) to cooperate in the development of Philippines-linked derivatives products.
As part of the MOU, SGX and PSE will jointly explore the development and promotion of Philippines futures and options to address the demands of international investors. The first product to be launched would be a Philippines index futures, based on the MSCI Philippines index. The product is targeted for listing on SGX in 4Q2013, subject to regulatory approval. Both exchanges will also look into the potential listing of derivatives products on PSE in due course in response to the needs of the markets.
PSE President and CEO Mr Hans B. Sicat said, "We are delighted to have SGX as a partner in the building of the Philippines derivatives market. We look forward to leveraging on SGX's experience and network, alongside growing investment interest in the Philippines, to bring the country's capital markets to new heights.
We look forward to this strengthened partnership with PSE and the opportunity to advance both our derivatives markets. With this futures contract, investors are assured of an efficient and effective risk management tool as they tap opportunities offered by the Philippine economy. The addition of this contract also builds upon SGX's offering of a one-stop access into Asia's key capital and growth markets," said Mr Magnus Bocker, CEO, SGG.
About The Philippine Stock Exchange (PSE)
The Philippine Stock Exchange (PSE) is a self-regulatory organization that provides and ensures a fair, efficient, transparent and orderly market for the buying and selling of securities in the Philippines. Considered one of the oldest bourses in Asia, the PSE traces its roots back to the country's two former bourses -- the Manila Stock Exchange (formed in 1927) and the Makati Stock Exchange (formed in 1963), which were unified on December 23, 1992 to form the PSE. On December 15, 2003, the PSE became a listed company. The PSE also provides clearing and settlement services through its wholly owned subsidiary, the Securities and Clearing Corporation of the Philippines. As of end-February 2013, the PSE has 134 active stockbrokers or trading participants and 254 listed companies.
Contact:
SGX
Joan Lew
Communications
Tel: +65 6236 8658
Email: joan.lew@sgx.com
Carolyn Lim
Communications
Tel: +65 6236 8139
Email: carolyn.lim@sgx.com
PSE
John Benette B. Mamangun
Assistant Vice President and Head, Corporate Planning & Investor Relations
Tel : +632 688-7524
Mobile: +63917 5585646
Email : jbmamangun@pse.com.ph
Topic: Press release summary
Source: Singapore Exchange (SGX)
Sectors: Daily Finance, Daily News, Exchanges
http://www.acnnewswire.com
From the Asia Corporate News Network
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