THE Singapore Exchange (SGX) and Zhengzhou Commodity Exchange (ZCE) have inked a memorandum of understanding (MOU) to jointly develop and expand the commodities markets in China and Singapore.
The two exchanges will explore areas of cooperation such as the development of new commodity derivative products, joint commodity-related events, information sharing, training as well as education programmes.
Zhang Fan, chairman of ZCE, said: "China's futures market has been growing steadily in recent years. Signing the MOU and establishing a cooperative relationship with SGX enable ZCE to strengthen its cooperation with regional markets. In addition, ZCE and SGX have complementary product categories. By working more closely together, both exchanges can leverage each other's strengths to expand, promote and facilitate the development of both markets."
"By aligning our strengths, international customers can tap the unique advantages in China and the surrounding growth economies through Singapore and SGX," said SGX chief Magnus Böcker. "This MOU further supports SGX's commitment to the commodity industry in Asia."