NYSE FORMS PARTNERSHIPS WITH PHILIPPINE, TEL AVIV EXCHANGES

Posted June 30, 2008

NEW YORK – NYSE Euronext and the Philippine Stock Exchange (PSE) have signed a memorandum of understanding (MOU) to begin cooperation on trading system architecture and technology, exchange-traded products, market participant connectivity and market data management.

“This will bring closer together the world's biggest stock market and Southeast Asia's oldest stock market,” says Jose C. Vitug, Chairman of the PSE. “[It] will provide us a common base to explore together a whole new frontier of opportunities, from which we can re-energize our markets for future waves of growth.”

In addition, NYSE Euronext has signed a similar MOU with the Tel Aviv Stock Exchange, under which the exchanges will promote cross-listings of securities already listed on one exchange or the other, and collaborate to promote the visibility of corporate issuers and provide market participant education.

“The Israeli capital market is performing very well and there is a high level of investor confidence,” says Ester Levanon, Chief Executive Officer of the Tel Aviv Stock Exchange. “We look forward to working closely with NYSE Euronext over the coming years.”

Under NYSE Euronext’s MOU with the PSE, that exchange will buy new trading system technology from NYSE Euronext and its affiliates. NYSE Euronext had already announced the sale of a new trading system to the PSE in April.

“We are committed to the success of this alliance, which will benefit and create growth opportunities for both markets and their respective customers,” says Duncan L. Niederauer, Chief Executive Officer of NYSE Euronext.

NYSE Euronext and the PSE will pursue a common goal of providing investors worldwide protection and operating fair, orderly and efficient markets, as well as looking at sharing information and experience on new stock market products and services.

“We in the PSE have very high hopes that our collaborative and cooperative understanding with the world’s leading stock market operator will help hasten the transformation of the PSE into a premier exchange,” says Francis Ed. Lim, President and Chief Executive Officer of the PSE. “Each possible area of mutual cooperation identified in the MOU will hopefully serve as guide in pursuing definitive agreements in the future.”