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Bursa Malaysia Derivatives Berhad (“Bursa Malaysia Derivatives”) and Dalian Commodity Exchange (“DCE”) signed an agreement to further discuss and explore deepening product research and other opportunities for cooperation, which will facilitate the implementation of the ‘One Belt, One Road’ strategy for the Chinese Government. This agreement was signed at the 10th annual China International Oils & Oilseeds Conference (“CIOC”) hosted in Guangzhou.
Dato’ Tajuddin Atan, Chief Executive Officer of Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”) said, “This new agreement reflects our commitment to deepen the collaboration between Bursa Malaysia Derivatives and DCE through the development of commodity derivatives products, specifically those which are palm oil-based, in the near term. This initiative will be the first towards interlinking and strengthening palm oil-based derivatives products between our two Exchanges that will be beneficial for both markets. Product innovation is one of the essential tools for ensuring growth of derivatives markets and we are glad to continue working with DCE to jointly promote and develop the physical and futures markets with regards to oils and oilseeds in Asia by improving the access to knowledge and products.”
Feng Bo, Chief Executive Officer of DCE, said that DCE had always attached great importance to international cooperation, market internationalisation and opening-up. With the accelerated opening-up of China’s futures market, the implementation of the “One Belt and One Road” strategy of the Chinese government has brought new opportunities for deepening cooperation between the two sides. Ten years of good cooperation has laid a solid foundation for the two sides to continue and deepen cooperation. As the products of DCE and Bursa Malaysia are highly correlated and complementary, the smooth cooperation between the two sides will not only promote the development level of the two exchanges and enhance the influence of the markets, but will also benefit the related enterprises along the palm oil industrial chain in China and Malaysia. Furthermore, it will enable better services for other palm oil producers and consumers around the world, thus expanding the extension and depth of derivatives market serving the real economy.
The agreement was signed in the lead up to the 10th CIOC which is being held on 12 November 2015 in Guangzhou, China. Since its inception in 2006, CIOC has continued to attract local and global investors and has played host to senior dignitaries and speakers from the oils and oilseeds industry and trading community.
CIOC’s focus on delivering the latest insights and developments as well as providing the much needed high-level platform for information exchange and networking has garnered strong support from both the investing and the oils and oilseed industry. CIOC has since cemented its role as a landmark event for the community and has seen strong growth in attendance since it first started in 2006.
