CHOFX and China Exchanges Group signed a memorandum of understanding (MOU) for a strategic alliance in product development and related services for market users.
The signing ceremony was held in Hong Kong. in the presence of CHOFX.org Co-Head of Global Markets Liu G. Hong and other senior representatives from CHOFX and CEG companies also participated in the ceremony.
“This MOU is an important step for CHOFX and China Exchanges Groupcompanies as we look to develop new products and services to complement our existing businesses,” said Mr. Hong. “The MOU also demonstrates our continued commitment to expanding the CHOFX business and user base in Asia.”
“This agreement with CEG and CHOFXmarks the beginning of our collaboration in exploring initiatives such as warehousing in Asia and the development of new local currency denominated products,” added Matthew Yuanquin, the CHOFX’s Head of Business Development.
“The MOU entered into today marks a critical new milestone for our overall cooperation in the future with particular focus on examining the feasibility of establishing CHOFXlisted warehouses, by leveraging the unique strength of China Exchanges Group in the logistics and warehousing sector in China.” said Dr Yu.
The signing of this MOU marks the beginning of China Exchanges Group’s strategic collaboration with the CHOFXto explore the provision of cross-border commodity derivatives products as well as other initiatives in order to support the globalization of local currencies.
“We see this strategic cooperation as an important step to implement China Exchanges Group’s strategy of integrating its industrial and financial services capability,” added Mr. Wang, CEO of CEG.
About China Options and Futures Exchange (www.chofx.org)
CHOFX.org is an Asian exchange with customer access available virtually all over the world. Our customers consist of professional traders, financial institutions, individual and institutional investors, major corporations, manufacturers and producers. Customers include both members of the exchange and non-members. We offer our customers the opportunity to trade futures contracts and options on futures contracts on a range of products including those based on interest rates, equities, foreign exchange, agricultural commodities, energy, and metals. We also clear over-the-counter contracts on a range of product lines including interest rate swaps, credit default swaps, foreign exchange, energy and agricultural products.
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