Singapore, Mar 10, 2014 - (ACN Newswire) - Singapore Exchange (SGX) and Dalian Commodity Exchange (DCE) have signed a memorandum of understanding (MOU) to collaborate on efforts to promote greater understanding and explore initiatives in the development of commodities markets in both China and Singapore. The two exchanges inked the MOU in Singapore on Friday, 7 March 2014.
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 in each other's markets. Through the MOU, DCE and SGX aim to strengthen understanding and promote bilateral partnership.
Mr Liu Xinqiang, Chairman, Dalian Commodity Exchange says, "China is the world's major commodity producer and consumer. In recent years, the derivatives market was steady and saw rapid developments. Singapore is one of Asia Pacific's and the world's major stock trading and derivatives trading center. Its open and free financial market and environment has attracted international investors. Both our markets complement each other and there are ongoing basis for further cooperation. This MOU with SGX will further consolidate and expand our ties with Asian derivatives markets, and promote DCE's business innovation and international development. We look forward to this partnership, working closely, enjoy mutual and win-win benefits. This partnership is an opportunity for us to contribute to the development and prosperity of Asia and the global derivatives market and better serve the real economy."
"We are excited to partner Dalian Commodity Exchange in efforts to enhance the commodity offerings and infrastructure in Asia, particularly in the iron and steel industry. By synchronising our strengths, international customers can tap on the unique advantages and opportunities in China and the surrounding growth economies. This MOU supports our commitment in serving the needs of Asia as their preferred price discovery centre and gateway for commodities," said Magnus Bocker, CEO, SGX.
About Singapore Exchange (SGX)
Singapore Exchange (SGX) is the Asian Gateway, connecting investors in search of Asian growth to corporate issuers in search of global capital. SGX represents the premier access point for managing Asian capital and investment exposure, and is Asia's most international exchange with more than 40% of companies listed on SGX originating outside of Singapore. SGX offers its clients the world's biggest offshore market for Asian equity index futures, centred on Asia's three largest economies - China, India and Japan. In addition to offering a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia's pioneering central clearing house. Headquartered in Asia's most globalised city, and centred within the AAA strength and stability of Singapore's island nation, SGX is a peerless Asian counterparty for the clearing of financial and commodity products. For more information, please visit www.sgx.com.
Source: Singapore Exchange (SGX)
Contact:
Joan Lew Marketing & Communications Tel: +65 6236 658 Email: joan.lew@sgx.com Carolyn Lim Marketing & Communications Tel: +65 6236 8139 Email: Carolyn.lim@sgx.com
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