THE PHILIPPINE STOCK EXCHANGE (PSE) has taken further steps to explore potential avenues for cooperation with the Shenzhen Stock Exchange (SZSE), visiting that Chinese city late last month to learn about the Chinese bourse’s listing and disclosure regulations and other market-related functions.
PSE President and Chief Executive Officer Ramon S. Monzon said in a statement on Friday that the visit was “a productive one for us as we gained valuable insights on the processes and technologies” of the SZSE.
“PSE and SZSE agreed to collaborate on market development initiatives in the near future,” the statement read.
The delegation from the Philippines visited SZSE on Nov. 29-30. Officials of the Securities and Exchange Commission (SEC) and of the PSE were joined in the visit by representatives of PSE subsidiaries Securities Clearing Corp. of the Philippines (SCCP) and Capital Markets Integrity Corp., as well as its affiliates Philippine Dealing Exchange Corp. and Philippine Depository Trust Corp.
Those involved in the meetings included SEC Chairman Emilio B. Aquino, SEC Commissioner Ephyro Luis B. Amatong, PSE President and Chief Executive Officer Ramon S. Monzon, PSE Chief Operating Officer (COO) Roel A. Refran, SCCP COO Renee D. Rubio, China Securities Regulatory Commission Shenzhen Branch Deputy Commissioner Zuo Ding, SZSE Chairman Wu Lijun, SZSE Executive Vice-President Peng Ming; SZSE Vice-Chairman of Listed Company Regulatory Committee Fu Binghui; SZSE Vice-Chairman of Product and Participant Management Committee and Director of Membership Supervision Department Tang Rui and SZSE International Department Director Liu Fuzhong.
The statement said members of the Philippine delegation learned more about SZSE’s regulations, market services and connectivity, market data products, as well as trading, surveillance and clearing and depository systems.
The visit comes about a year after representatives of SZSE visited the PSE to explore potential areas for cooperation between the two exchanges.
The two signed a memorandum of understanding in 2009 to undertake sharing of information on various market-related matters.
In October 2017, Mr. Monzon announced that the PSE was wooing its counterpart in China to invest in the local stock market. The move was seen to set the stage for the creation of a Manila-Shenzhen trading link that could give Chinese investors access to shares listed in the Philippines and vice versa. — V. V. Saulon