A key part of CME Group's international growth strategy is to expand global distribution of our products and to add new customers throughout Asia," said CME Group Executive Chairman and President Terry Duffy. "In the years ahead, we believe our long-standing relationship with the Shanghai Futures Exchange will continue to build upon the goals of our customers and provide an important foundation for the development of China's financial markets."

"Through this MOU, we continue to build on our commitment to expand the reach of our markets and products to this increasingly influential region," said CME Group CEO Phupinder Gill. "We continue to look for opportunities to learn more about the Chinese financial markets, and by working with the Shanghai Futures Exchange we can strengthen our relations in the country and explore the long-term potential of developing exchange-traded derivatives in China."

Leo Melamed, CME Chairman Emeritus added, "The pace of economic expansion in China since the decision to move toward a market economy continues to be significant, even in spite of the recent credit crisis, and its leaders should be applauded for this transition. CME Group has long believed that the continued expansion of China's economy may be achieved by advancing the growth of China's financial futures markets, allowing banks, corporations and financial institutions to use these valuable hedging tools to manage risk."

Under the terms of the MOU, which were established in March 2003, the SHFE will provide CME Group with insights and information on the commodities markets in China, including regulations and policies, market specifications and development conditions in order to assist CME Group in gaining a better understanding of China's commodities marketplace. In turn, CME Group will help the SHFE become more familiar with international derivatives market practices, products and regulations, and will also provide assistance on the design of derivatives products, business development, marketing and training.