Singapore Exchange (SGX) and Dalian Commodity Exchange (DCE) have signed a memorandum of understanding (MOU) to collaborate on promoting the development of commodities markets in China and Singapore.
The two exchanges inked the MOU in Singapore on 7 March.
The MOU will jointly explore areas of cooperation including development of new commodity derivative products, joint commodity-related events, information sharing, training, member and investor education in each other’s markets. Through the MOU, DCE and SGX aim to strengthen understanding and promote bilateral partnership.
Liu Xinqiang, chairman, Dalian Commodity Exchange, says: “China is the world's major commodity producer and consumer. In recent years, the derivatives market was steady and saw rapid developments. Singapore is one of Asia Pacific’s and the world's major stock trading and derivatives trading centre. Its open and free financial market and environment has attracted international investors. Both our markets complement each other and there are ongoing basis for further cooperation. This MOU with SGX will further consolidate and expand our ties with Asian derivatives markets, and promote DCE’s business innovation and international development. We look forward to this partnership, working closely, enjoy mutual and win-win benefits. This partnership is an opportunity for us to contribute to the development and prosperity of Asia and the global derivatives market and better serve the real economy.”
“We are excited to partner Dalian Commodity Exchange in efforts to enhance the commodity offerings and infrastructure in Asia, particularly in the iron and steel industry. By synchronising our strengths, international customers can tap on the unique advantages and opportunities in China and the surrounding growth economies. This MOU supports our commitment in serving the needs of Asia as their preferred price discovery centre and gateway for commodities,” says Magnus Böcker, CEO, SGX.