Nyse Euronext (NYX) and Zhengzhou Commodity Exchange (ZCE) announced today that they have signed a Memorandum of Understanding (MOU) to establish a long-term partnership in developing futures and options markets locally and globally.
Under the terms of the MOU, NYSE Euronext and ZCE will exchange information on futures and options markets, including technology, laws and policies, and assist each other to gain a better understanding of each other's markets locally and globally.
"We welcome this opportunity to partner with Mr. Zhao and his colleagues at the Zhengzhou Commodity Exchange," said Duncan Niederauer, CEO, NYSE Euronext. "This partnership enables NYSE Euronext and ZCE to expand their cooperation on derivatives products, business development, IT systems, marketing and training. We are committed to the success of this alliance as part of our long-term commitment to China, and look forward to working on a win-win for both exchanges."
Garry Jones, Executive Director of Business Development and Strategy at Liffe, the global derivatives business of NYSE Euronext, said: "Liffe is planning a major expansion in Asia this year and China is a very important part of our plans. We already have clients trading in our markets from around the Asia region and by signing our MOU with the ZCE we will establish closer a relationship with the exchange. We look forward to working on our new partnership and enhancing the efficiencies and activity of both markets and the exploring further opportunities for cooperation."
Zhao Zhengping, president & CEO of ZCE, said, "NYSE Euronext, with its realm spreading in both USD-zone and Euro-zone, plays a very important role in the world's financial markets. It has long history in developing both financial and commodity futures and options and owns advanced trading and risk control systems. ZCE, as the pioneer of Chinese futures market, after 18 years of exploration and development, is growing rapidly. I believe that the signing of this MOU will provide both parties a new platform of cooperation. ZCE is devoting itself to be a diverse and modern futures market, by researching and developing futures and options of industrial and energy products as well as commodity indexes."