NYSE Euronext Forges Partnership with Bank of China

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The MoU with the Bank of China is the latest in a series for the US exchange group.

NYSE Euronext has signed a Memorandum of Understanding (MoU) with Bank of China, as the European exchange seeks to attract trading flow from the Far East.

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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