SGX and China Financial Futures Exchange Collaborate to Develop
SGX and China Financial Futures Exchange Collaborate to Develop Derivatives Markets
Singapore, Apr 10, 2013 - (ACN Newswire) - Singapore Exchange (SGX) and China Financial Futures Exchange (CFFEX) have signed a Memorandum of Understanding (MOU) to cooperate in the development of the derivatives markets in China and Singapore. The agreement was signed in Beijing, China, between Mr Rong Zhiping, Deputy CEO of CFFEX and Mr Magnus Bocker, CEO 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", said Mr Rong Zhiping, Deputy CEO of CFFEX.
"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," said Mr Magnus Bocker, CEO of SGX.
About China Financial Futures Exchange (CFFEX)
CFFEX is the sole exchange established for financial derivatives trading in China. The main functions of CFFEX approved by China Securities Regulatory Commission (CSRC) are organizing and arranging the listing, trading, clearing and settlement of financial derivatives, formulating business management rules, carrying out self-management, releasing market trading information, and providing technology, venues and facility services. CFFEX's main product is the Futures on CSI 300 Index, which tracks the performance of 300 A-share stocks listed on Shanghai and Shenzhen stock exchanges.
About Singapore Exchange (SGX)
Singapore Exchange (SGX) is the Asian Gateway, connecting investors in search of Asian growth to corporate issuers in search of global capital. SGX represents the premier access point for managing Asian capital and investment exposure, and is Asia's most internationalised exchange with more than 40% of companies listed on SGX originating outside of Singapore. SGX offers its clients the world's biggest offshore market for Asian equity futures market, centred on Asia's three largest economies - China, India and Japan.
In addition to offering a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia's pioneering central clearing house. Headquartered in Asia's most globalised city, and centred within the AAA strength and stability of Singapore's island nation, SGX is a peerless Asian counterparty for the clearing of financial and commodity products. For more information, please visit www.sgx.com .
Singapore Exchange (SGX)
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