HKEx and Shanghai Futures Exchange sign MOU

HKEx and Shanghai Futures Exchange sign MOU

05/03/2012

Hong Kong Exchanges and Clearing Limited (HKEx) and Shanghai Futures Exchange (SHFE) have signed a Memorandum of Understanding (MOU) on cooperation and the exchange of information.

HKEx Chief Executive Charles Li and SHFE President and Chief Executive Officer Yang Maijun signed the MOU on 2 March this year at a ceremony in Shanghai. It was witnessed by HKEx's Head of Mainland Development Yang Qiumei, SHFE's Executive Vice President Teng Jiawei, Managing Director for International Cooperation Tian Feng and Senior Director for International Cooperation Yang Ke. Other senior executives from HKEx and SHFE also attended the ceremony and witnessed the signing.

Mr Li said: "The agreement we signed with SHFE is an on-going part of our strategy and follows on from recent similar agreements with other commodities exchanges in China. We recognise the increasing importance of China within global commodity markets and believe that as the leading offshore RMB centre we have a key role to play in supporting this change."

Mr Yang said: "The MOU will help further strengthen our strategic cooperation and experience sharing and will provide more business opportunities for both sides. We hope to have more cooperation with HKEx in business areas of mutual interest and to give the derivatives market a more important role in China’s economic development."