CME and CFFEX sign market data agreement
CME Group, the world's leading and most diverse derivatives marketplace, and China Financial Futures Exchange Inc. (CFFEX), the sole financial derivatives exchange in mainland China, announced today that they have signed an agreement on market data provision.
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Under this agreement, CME Group will license and distribute CFFEX market data outside of mainland China, to customers of CME Group's recognized market data distribution platform.
"We are pleased to enter into this strategic partnership and act as the global market data distributor for CFFEX outside of mainland China. Through this relationship, CME Group establishes itself as a critical component for global customers that want access to Chinese markets," said Phupinder Gill, CME Group Chief Executive Officer. "CFFEX is an important partner for us and we are privileged to play a key role in the internalization of their benchmark products, as China continues on its path of financial market liberalization."
"CFFEX's vision is to build a world leading exchange with lofty social responsibilities, comprehensive market functions, modern corporate governance and robust operational efficiency," Hu Zheng, Chief Executive Officer of China Financial Futures Exchange said. "Global development is one of our main goals and an important driver of market growth. This is why it is essential for us to work closely with global partners such as CME Group and why we attach such significance to signing this agreement. We believe it is a milestone for both parties."
Leo Melamed, CME Group Chairman Emeritus, added, ""This agreement is a major step in the strategic relationship between CFFEX and CME, a result of many years of cooperation and friendship."