Source: MTS Group
MTS S.p.A. is pleased to announce that it has signed a memorandum of understanding with the Shanghai Stock Exchange under which both parties have agreed to cooperate towards the creation of a transparent, liquid and efficient domestic fixed-income market in the People's Republic of China.
This strategic partnership will facilitate the exchange of respective expertise and market intelligence with a view to combining MTS's European Bond Market model with the distinctive domestic requirements necessary to create an electronic reference market for China.
Zhu Cong Jiu, President of the Shanghai Stock Exchange, commented: "We are pleased at the prospect of working in partnership with MTS towards the development of a system that provides enhanced liquidity and transparency in respect of China's fixed-income market. We are confident that our understanding of the Chinese market and MTS’s experience in facilitating the efficient growth of fixed-income markets will prove an advantageous combination."
Gianluca Garbi, Chief Executive of MTS S.p.A., commented: "We look forward to cooperating with the Shanghai Stock Exchange in order to increase our understanding of local market techniques and practices through their expertise. China is rapidly furthering its role in the global economy and, against this background, we also look forward to exploring the possibility of ongoing cooperation in the long-term."