SGX and Zhengzhou Commodity Exchange ink MOU to expand commodities markets

For new derivatives products.

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.

According to a release by the SGX, the agreement was signed in Singapore, between Mr Zhangfan, Chairman of ZCE and Mr Magnus Böcker, 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.

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 Böcker, CEO, SGX.