August 28, 2024 | 12:00am
MANILA, Philippines — The Philippine Stock Exchange Inc. (PSE) continues to ramp up initiatives to be up to par with global stock exchanges as it forged a partnership with the Taiwan Stock Exchange (TWSE).
A memorandum of understanding (MOU) was signed by the PSE and TWSE last week, formalizing and strengthening the relationship between the two bourses.
Under the partnership, PSE and TWSE will collaborate on product development and market promotion as well as share best practices in areas such as regulations; environmental, social and governance practices; and market trends.
“I believe this MOU is a good starting point for the relationship between PSE and TWSE and is key to fostering the friendship recently formed between us and exploring mutually beneficial endeavors for the two bourses,” PSE president and CEO Ramon Monzon said.
“TWSE’s insights on product and technology development, regulatory and sustainability initiatives will serve as invaluable inputs to our exchange,” Monzon said.
The PSE and TWSE will form a working group to carry out the objectives in the areas of cooperation covered by the MOU.
Monzon earlier said that the PSE’s priority for this year up to 2026 would be to expand its product portfolio to improve market liquidity and pursue new growth areas.
In the first half, the PSE reported a net income of P398.02 million, down by 4.7 percent from P417.51 million in the same period in 2023.
Its operating revenues during the six-month period also declined by 2.3 percent to P722.75 million.
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