A memorandum of understanding (MoU) has been signed between Deutsche Börse and the Phillippine Stock Exchange (PSE) to establish market data cooperation.
The exchanges hope to collaborate in a number of areas, including the licensing of current market data offerings, increasing distribution channels for real-time data, and new product design and innovation.
Under the (MoU), Deutsche Börse and the PSE expect to develop a plan to incorporate these collaboration ideas by the end of Q3 2014.
Hauke Stars, executive board member responsible for the information technology and market data + services division of Deutshe Börse, said: “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.”
Hans Sicat, president and CEO of PSE, said: “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.”
