ASX media release - ASX and Philippine Stock Exchange sign MoU

17 November 1998

The Australian Stock Exchange (ASX) and the Philippine Stock Exchange Inc (PSE) have signed a Memorandum of Understanding to enhance the lines of communication between the two exchanges.

The MoU (Concerning the Provision of Information for the Purpose of Regulation and Enforcement) was signed in Manila today to coincide with the Australian Government’s promotion of Australian trade and investment to the Philippines "All the Best from Australia."

The Deputy Prime Minister and Minister for Trade, the Hon. Tim Fischer MP, attended the signing of the memorandum between the Chairman of the Philippine Stock Exchange, Mr. Harry Liu, and ASX Chairman, Mr. Maurice Newman AM.

ASX has now signed six MoUs with Asia Pacific exchanges :

  • Kuala Lumpur Stock Exchange (May 1996)
  • Korea Stock Exchange (May 1996)
  • Jakarta Stock Exchange (February 1997)
  • Surabaya Stock Exchange (February 1997)
  • Taiwan Stock Exchange (September 1997)
  • Philippine Stock Exchange (November 1998)


ASX believes it is vital to continue to engage in the region’s financial markets in recognition of its importance to the global economy.

"The issues of reform and harmonisation of regulatory systems are critical for all financial markets and never more so than in the Asia Pacific today as the region looks to economic recovery," Mr Newman said.

"Australia knows that its future lies in a close relationship with its neighbours in the Asia Pacific region - potentially the third greatest geographical grouping, along with Europe and the Americas.

"By signing such agreements and developing productive outcomes from them, ASX aims to improve the resilience of Asia Pacific’s financial markets as a whole.

"It is important to give serious thought to the future shape of stock markets in our region. In my view, given the size of our markets, that future must inevitably involve co-operation between stock exchanges."