SGX and Bank of China extend collaboration in RMB market

SINGAPORE Exchange (SGX) on Friday said it is extending its collaboration with the Bank of China (BOC) in growing the renminbi market.

Through this, the partners will look into more yuan-denominated products, and enhance the clearing and settlement services for China's currency. They will also look at "greater access to growth opportunities in China and Singapore markets, through joint marketing".

The collaboration is an extension of BOC and SGX's memorandum of understanding (MOU) that was first signed in 2013.