Source: Tokyo Commodity Exchange
The Tokyo Commodity Exchange (TOCOM) and Shanghai Futures Exchange (SHFE), two leading futures exchanges in Asia for metals, energy and rubber signed a Memorandum of Understanding (MoU) in Shanghai on May 26, 2006 to share information and establish a future cooperative framework. This occurred just before the 3rd Shanghai Derivatives Market Forum hosted by SHFE.
The MoU is aimed at information sharing on new contracts as well as on changes to existing contract specifications and trading methods. The exchanges also agreed to explore areas of cooperation including employee training.
Mr. Nangaku, Chairman of TOCOM said, "SHFE and TOCOM, listing similar commodities, have a great opportunity to develop a cooperative relationship from the perspective of exploring trading opportunities and in the proper management of markets. Along with the economic growth of Asia, derivatives markets in the region have been rapidly expanding. I trust that, based on this MoU, information sharing between our two exchanges will benefit not only our respective exchange members, but also market participants."
Madam Wang Lihua, Chairperson of SHFE said, "We as SHFE are pleased to establish an official cooperative linkage with TOCOM, which plays a significant role in the world commodity futures market. We believe the MoU will facilitate the further cooperation in related products and sharing of information between our two exchanges, which will create more opportunities for development on both sides. It is our hope that we will work together on the areas of mutual interests with the aim to strengthen market efficiency and functionality."