MANILA, Philippines -- The New York Stock Exchange and the Philippine Stock Exchange signed a cooperation agreement Thursday night in the presence of President Macapagal-Arroyo, who is on a 10-day working visit in the US.

NYSE Euronext chief executive officer Duncan L. Niederauer and PSE Chairman Jose Vitug signed a memorandum of understanding to establish cooperation in exploring new opportunities in trading system architecture and technology, exchange-traded products, market-participant connectivity and market data management.

Ms Arroyo is in New York to promote the Philippines to investors.