MANILA - The Philippine Stock Exchange (PSE) is set to forge an agreement with the Ho Chi Minh Stock Exchange (HOSE) of Vietnam next month as part of its commitment to foster international cooperation among bourses.

In a statement released Thursday, the PSE said its board of directors have approved the execution of a memorandum of understanding (MOU) with HOSE for mutual cooperation and experience sharing, which is subject to the execution of definitive implementing agreements.

The agreement will be signed on September 25 in Vietnam, the PSE said.

“We intend to pursue this accord with HOSE to foster international cooperation and mutual collaboration and communication between our exchanges. Amid these uncertain times, we remain keen on opportunities our neighboring markets have to offer,” PSE president and chief executive officer Francis Lim said.

Citing data, the PSE said HOSE has a total of 169 listed companies as of end-2008, a huge jump from only 26 firms in 2004. In 2007, the Vietnam bourse registered a total of 121 registered companies.

The value turnover of the HOSE stood at $7 billion as of the end of last year, while domestic capital was over $9 billion, the PSE added.

The PSE inked an MOU with the Shenzhen Stock Exchange last April, with both bourses agreeing to share information and experience on volumes, market price indicators, market data management, and market regulation practices, among others.

In February, the PSE also signed an agreement to create a trading linkage among ASEAN countries, allowing investors to buy or sell ASEAN-listed securities through their local brokers.

Some of the ASEAN bourses that teamed up with the PSE to set up the electronic linkage are Bursa Malaysia, Indonesia Stock Exchange, Singapore Exchange, and the Stock Exchange of Thailand. The ASEAN electronic link is expected to be launched next year.

“We should not be contented with staying local. By partnering with our peer exchanges in the ASEAN region, the PSE is moving beyond its shores to draw strength from the successes of other markets,” Lim said.

Last year, the PSE also signed an MOU with the New York Stock Exchange to jointly develop new exchange-traded products, explore opportunities in trading system architecture and technology, and enhance market participant connectivity and data management.