Singapore Exchange (SGX) and China Financial Futures Exchange (CFFEX) have signed a memorandum of understanding to cooperate in the development of the derivatives markets in China and Singapore.
The agreement was signed in Beijing, China, between Rong Zhiping, deputy chief executive of CFFEX, and Magnus Böcker (pictured), chief executive of SGX.
Under the MOU, both exchanges will jointly explore possible areas of cooperation including product and market development, information sharing and human resources training.
With the agreement, both exchanges will also consider synergies to better address the demands and needs of market participants in China and Singapore.
“Our strategic goal is to establish a world class exchange, so it is necessary to draw from the overseas markets and cooperate closely with our international peers. CFFEX values the friendship with SGX and expects to promote the cooperation in common interests,” says Zhiping.
“We consistently pursue new opportunities to enhance our unique offering of Asian derivatives to satisfy the diverse needs of our global customers. This MOU marks a significant milestone for SGX and reinforces our commitment to the China market. We look forward to sharing insights and expertise with CFFEX to further develop both our markets,” says Böcker.