CME Group, CFETS Sign MOU
Partnership comes following seventh US and China strategic development dialogue.
The goal of the MOU is to develop a joint venture in the US based on the seventh US and China strategic economic dialogue. Both countries are interested in working together to explore opportunities, promote each other's market infrastructure and products via cooperation programs and help facilitate the development of both countries' markets, according to the memorandum.
"We are pleased to be able to play an active role in promoting trade and cooperation between the US and China," said Terry Duffy, executive chairman and president of CME Group, in a statement. "As China continues on its path of financial market liberalization and renminbi (RMB) internationalization, we believe that there are unique opportunities for CME Group and CFETS to work closely together to create a marketplace that best serves needs of the derivatives industry."
Currently, CFETS is China's largest marketplace for interest rates and foreign exchange products, in addition to being a major trading platform and pricing center for RMB.
"Our cooperation will bring mutual benefits to both organizations, facilitate the connectivity and opening up of financial markets of China and the US, as well as meet the demand of Sino-US economic entities to hedge their interest rates and foreign exchange risks," said Pei Chuanzhi, president of CFETS, in a statement. "At the same time, our collaboration will enable financial markets to drive economic growth, enhance the welfare of the people of both countries, and further promote international collaboration."
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Ice moves to meet demand for greater cloud, AI capabilities
The exchange also outlined competitive advantages behind managing its data and cloud strategy internally during its Q1 earnings call on Thursday.
FactSet looks to build on portfolio commentary with AI
Its new solution will allow users to write attribution summaries more quickly and adds to its goal of further accelerating discoverability, automation, and innovation.
How Ally found the key to GenAI at the bottom of a teacup
Risk-and-tech chemistry—plus Microsoft’s flexibility—has seen the US lender leap from experiments to execution.
The IMD Wrap: Beginning of the end for data audits?
This week, there’s exciting news for data bean-counters in the form of a partnership between two vendors that could change the way we view and track data usage and audits.
S&P debuts Spark Assist genAI copilot, draws up ‘Blueprints’ of combined datasets
S&P’s Kensho subsidiary has rolled out new emerging tech products leveraging AI to explore and combine the vendor’s wealth of datasets to solve common use cases.
Nasdaq reshuffles tech divisions post-Adenza
Adenza is now fully integrated into the exchange operator’s ecosystem, bringing opportunities for new business and a fresh perspective on how fintech fits into its strategy.
Liquidnet sees electronic future for gray bond trading
TP Icap’s gray market bond trading unit has more than doubled transactions in the first quarter of 2024.
Verafin launches genAI copilot for fincrime investigators
Features include document summarization and improved research tools.
Most read
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- DTCC urges affirmation focus ahead of T+1 move
- Women in Technology & Data Awards 2024: All the winners and why they won