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SINGAPORE, May 22, 2015 - (ACN Newswire) - Singapore Exchange (SGX) and Zhengzhou Commodity Exchange (ZCE) have signed a memorandum of understanding (MOU) to collaborate on efforts that jointly develop and expand the commodities markets in China and Singapore. The agreement was signed in Singapore, between Mr Zhangfan, Chairman of ZCE and Mr Magnus Bocker, CEO of SGX on Friday, 22 May 2015.
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 programmes in both markets. Through the MOU, ZCE and SGX aim to strengthen mutual understanding and promote bilateral partnership.
Mr Zhang Fan, Chairman, ZCE, says, "China's futures market has been growing steadily in recent years. Located in the inner land of China, ZCE places great importance in enhancing cooperation and collaboration with overseas exchanges, especially exchanges within the Asian-Pacific region. 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."
"We are pleased to partner Zhengzhou Commodity Exchange in efforts to enhance the commodity offerings and infrastructure to the next level. By aligning our strengths, international customers can tap on the unique advantages in China and the surrounding growth economies through Singapore and SGX. This MOU further supports SGX's commitment to the commodity industry in Asia," said Magnus Bocker, CEO, SGX.
About Zhengzhou Commodity Exchange (ZCE)
ZCE was established on Oct 12, 1990, it is one of the four regulated futures exchange in China. ZCE adopts a membership mechanism, it has 198 registered members by the end of 2014. So far ZCE has listed the following futures products: Common Wheat, Strong Gluten Wheat, Early Long Grain Non-glutinous Rice, Late Indica Rice, Japonica Rice, Cotton, Rapeseed, Rapeseed Oil, Rapeseed Meal, White Sugar, Thermal Coal, Methanol, Pure Terephthalic Acid (PTA), Flat Glass, Ferrosilicon and Silicon Manganese, which cover most of the significant sectors within the national economy such as Agriculture, Energy, Chemical & Industrial, Construction Materials and Metallurgy. In 2014, ZCE achieved a trading volume of 680 million contracts, and trading turnover of RMB 23.2 trillion Yuan. For further information, please visit www.czce.com.cn.
Contact:
Joan Lew
Vice President, Marketing & Communications
Singapore Exchange
Tel: +65 6236 8658
Fax: +65 6557 2652
Email: joan.lew@sgx.com
Topic: Business Plan
Source: Singapore Exchange (SGX)
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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