MANILA, Philippines - The Philippine Stock Exchange signed a memorandum of understanding with Deutsche Börse Market Data + Services to establish a market data cooperation between the two exchanges.
Among the key areas of collaboration include licensing of current market data offerings, increasing distribution channels for real-time data, and new product design and innovation.
Deutsche Börse and the PSE would be exploring these options, and expect to develop a concrete plan by the end of the third quarter of 2014.
"As the operator of one of the longest running and established stock markets in Southeast Asia, the Philippine Stock Exchange makes for an interesting market data partner. By aligning our efforts, we can identify new growth areas and efficiencies that benefit both exchanges' market data offerings and services. We look forward to working closely with PSE in the future," said Hauke Stars, executive board member at Deutsche Borse.
"The keen interest of investors in the Philippine stock market has created greater demand for more extensive market data. We are excited about this partnership as the Exchange continues to look for ways to further improve its market data segment both as a service and as a revenue stream," PSE President and CEO Hans B. Sicat said.
Deutsche Börse has partnered with various exchanges in Asia over the last year. In April 2014, Deutsche Börse and Shanghai Stock Exchange announced a partnership under which SSE assumed responsibility for the real-time distribution, marketing and sales of key Deutsche Börse market data products in mainland China. In October 2013, Deutsche Börse became the exclusive licensor of Bombay Stock Exchange's market data and information products to all international clients.