SGX mulling sale of Philippine Dealing System stake to PSE

MOA signed but no final deal.

Singapore Exchange (SGX) said The Philippine Stock Exchange, Inc (PSE) wishes to enter discussions with SGX on the sale of its 20% stake in Philippine Dealing System Holdings Corp (PDS).

SGX and PSE have signed a memorandum of agreement on the discussions. The discussions are preliminary and there is no assurance any definitive or binding agreement will result, SGX said. The exchange will make further announcements of any material developments.

In 2007 SGX acquired 20% of PDS, which operates the securities depository and fixed income exchange in the Philippines.

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