The Tokyo Commodity Exchange (TOCOM) and Hong Kong Exchanges and Clearing Limited (HKEX) and today (Monday) signed a Memorandum of Understanding (MOU) to further promote their cooperation through information exchanges, staff exchanges, product development and joint promotion.
HKEX Chief Executive Charles Li said: “The signing of the MOU marks the start of a partnership with great potential. HKEX is dedicated to offering a wide range of asset classes and helping to increase China’s influence on global commodity pricing, while TOCOM has many years of experience in the commodity industry. Through the enhancement of communication and cooperation, both sides will benefit from the further development in their commodity business.”
Takamichi Hamada, President and Chief Executive Officer of TOCOM, said: “TOCOM has a proven track record of providing global benchmarks and risk management tools for the precious metals industry. HKEX holds a unique position in the derivatives space, providing a bridge between Mainland China and rest of the world. Through this agreement, we will work together to develop the precious metals market in both countries.”
The MOU was signed by Li Gang, Co-Head of Market Development at HKEX, and Ryoichi Seki, TOCOM’s General Manager of Global Business Development Department, during a ceremony hosted by HKEX. Charles Li, Takamichi Hamada, and other senior executives from HKEX and TOCOM attended and witnessed the signing.