Singapore Exchange (SGX) and the Shanghai Futures Exchange are cooperating in the development of the commodity derivatives markets in both China and Singapore.
The two exchanges signed a memorandum of understanding on the cooperation in Shanghai, China, on Saturday, 19 October 2013.
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They will jointly explore areas of cooperation including the development of derivatives for energy, metals, chemicals and commodity indexes. The MOU also covers exchange of ideas and information sharing.
Liu Nengyuan, president and CEO of Shanghai Futures Exchange, said: "This cooperation with Singapore Exchange will help the internationalisation of China’s futures market and Shanghai Futures Exchange. It will increase market efficiency, and promote the development of the derivatives markets and the economies of both China and Singapore. We attach great importance to our cooperation with SGX and look forward to mutual benefits in areas such as information exchange, experience sharing and engagement between our executives under the MOU."
Magnus Böcker, CEO of SGX, said: "We are delighted to partner Shanghai Futures Exchange in developing new products and services which will enable customers to access opportunities in Asia. At the same time, Shanghai Futures Exchange can leverage SGX’s connectivity and infrastructure to reach out to international participants. This partnership marks the start of an exciting journey and further boosts SGX’s long-term commitment to China."
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