Dalian Commodity Exchange (DCE) and Korea Exchange (KRX) signed the memorandum of understanding (MOU) in Dalian on November 22. This is another significant progress in building strategic partnership with global exchanges after DCE signed MOUs with Dubai Gold & Commodities Exchange (DGCX) and The Nasdaq OMX Group, Inc (Nasdaq OMX). DCE President & CEO Liu Xingqiang and KRX President Soo Hyung Jin presented at the signing ceremony.
Liu Xingqiang said that, as a globally leading derivatives exchange, KRX boasts the largest trading volume in the world. Establishing partnership with KRX will help DCE to expand its market, better its investors’ structure and promote its reform and innovation in the futures market. Being DCE’s significant move to further promote opening-up and global cooperation, the MOU will provide more development opportunities for both sides and has great significance in strengthening and broadening the connection between DCE and other derivatives markets in Asia.
KRX President Soo Hyung Jin said that, with the growing scale and influence of the Chinese futures market, after years of rapid development, DCE is not only an important futures exchange in China but also a successful model among Asia’s derivatives exchanges. He added that, signing the MOU will further facilitate the understanding of the Chinese market by the Korean derivatives market, and will bring more cooperative opportunities to both sides.
According to the MOU, DCE and KRX will establish a communication mechanism with far-reaching effects in years to come, with a view to exploring more strategic cooperative opportunities for information sharing, technological exchange and product research and development, which will speed up the global development of the two sides.
It is learnt that DCE has been actively adopting the strategy of going global. So far, DCE has signed MOUs with 20 overseas exchanges and earned its membership in the Futures Industry Association (FIA) and the Futures and Options Association (FOA). On November 7, DCE has jointly held the 7th China International Oils and Oilseeds Conference (CIOC) with Bursa Malaysia Derivatives (BMD), which attracted representatives from 14 countries and regions including the U.S.A., U.K., German, India and Malaysia. Well received by the global market, the conference has reached a new level of going global.