MANILA, Philippines - The Philippine Stock Exchange (PSE) and the Korea Exchange Inc. (KRX) have signed a memorandum of understanding (MOU) for information and experience sharing.

Both parties have agreed to share information in co-developing new markets and products as well as in expanding existing markets, the PSE said in a filing with the Securities and Exchange Commission.

"In the MOU, the PSE and the KRX agree to improve information technology infrastructure to promote and strengthen the development of their respective financial markets," the PSE said.

KRX currently manages businesses related to securities and futures trading in Korea. As of 2008, its equity markets KOSPI and KOSDAQ have a total of 764 and 1,037 listed firms, respectively.

Last year, the PSE signed an MOU to create a trading linkage among ASEAN countries, allowing investors to buy or sell ASEAN-listed securities through their local brokers. The electronic link is set to be launched this year.

Some of the ASEAN bourses included in the trading linkage are Bursa Malaysia, Indonesia Stock Exchange, Singapore Exchange, and the Stock Exchange of Thailand.

In 2008, the PSE inked an MOU with the New York Stock Exchange Euronext to jointly develop new exchange-traded products, enhance market participant connectivity, and improve dayta management.