March 13, 2013

Philippine and Singapore Exchanges enter into Memorandum of Understanding


On March 12, 2013, The Philippine Stock Exchange Inc. has entered into a Memorandum of Understanding with the Singapore Exchange for mutual cooperation on the development of derivative products with Philippine-related underlying assets.

The first product to be launched would be a Philippine index futures based on the MSCI Philippines Index targeted for listing on SGX in the fourth quarter of this year.

“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,” said PSE president and CEO Hans B. Sicat.

“With this futures contract, investors are assured of an efficient and effective risk management tool as they tap opportunities offered by the Philippine economy,” said SGX CEO Magnus Böcker.