The Montréal Exchange (MX) announced today it has signed a series of international co-operation agreements with four Chinese exchanges.
"Building international relations and co-operation have been key to the growth strategy of the Montréal Exchange for a number of years," said Luc Bertrand, MX President and CEO, returning from a week in China. "We are enthusiastic about strengthening ties with our colleagues in one of the world's most dynamic financial markets."
During the tour, the MX signed separate Memoranda of Understanding (MOUs) with the Shenzhen Stock Exchange on September 18, the Dalian Commodity Exchange on September 20, the Zhengzhou Commodity Exchange on September 21 and the Shanghai Stock Exchange on September 22.
The Memoranda of Understandings are intended to strengthen co-operation in the development of financial markets in fields of activity that include derivatives markets development, information technology solutions, product design and cross market cooperation.
The agreements provide a structure designed to facilitate communication and foster a continuing relationship between MX and each exchange through such initiatives as senior executive meetings and staff secondments.
"Financial exchanges are tightening their international links," said Mr. Philippe Loumeau, MX Senior Executive Vice-President and COO. "These MOUs will accelerate sharing of information, expert knowledge and research and development, to the benefit of financial markets in Canada, China and globally."
Representatives of the four exchanges intend to visit Montréal before the end of the year, giving MX an opportunity to present its advanced electronic trading systems and IT solutions. MX has been particularly active in this field with the introduction of SOLA, a proprietary trading system implemented by MX in Canada and the US and introduced on a commercial basis to the global exchange industry this year.