NYSE Euronext Forges Partnership with Bank of China
As part of the partnership, the exchanges will develop renminbi (RMB)-denominated products together, while the Bank of China will become a general clearing member of NYSE Liffe, NYSE Euronext's European derivatives market.
This follows NYSE Euronext's announcement yesterday that it has also formed a working relationship with Taiwan Futures Exchange. Dominique Cerutti, president and deputy CEO at NYSE Euronext, says these show the exchange's desire to expand its business in Asia.
"Asia is a core market and strategic priority for NYSE Euronext," he says. "Flows from the region continue to build liquidity in our existing markets and our non-Asian customers are devoting significant thought into how they can connect to these exciting markets."
Yue Yi, executive vice president of Bank of China, adds: "Both parties acknowledge the potential of working together to develop and promote RMB-related trading products. I believe the signing of the MOU between NYSE Euronext and Bank of China is marking a new starting point for the overall cooperation between the two institutions."
Asia is a core market and strategic priority for NYSE Euronext. Flows from the region continue to build liquidity in our existing markets and our non-Asian customers are devoting significant thought into how they can connect to these exciting markets.
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