NYSE Euronext (NYX) and Dalian Commodity Exchange (DCE) today signed a Memorandum of Understanding (MOU) to develop the futures and options markets in the two countries, and internationally.
The agreement was designed to explore opportunities for extending the global reach of both exchanges. The MOU will enable the two exchanges to explore opportunities for information sharing, exchanging employees, and working together on IT solutions and product design in the global marketplace.
“We welcome this opportunity to partner with Mr. Liu and his colleagues at the Dalian Commodity Exchange,” said Duncan Niederauer, CEO, NYSE Euronext. “We are committed to the success of this alliance as part of our long-term commitment to China, sharing valuable growth opportunities and promoting the development of regional and global financial markets.”
Garry Jones, Executive Director of Business Development and Strategy at Liffe, the global derivatives business of NYSE Euronext, said: “Liffe is planning a major expansion in Asia this year and China is a very important part of our plans. We already have clients trading in our markets from around the Asia region and by signing our MOU with the DCE we will establish closer a relationship with the exchange. We look forward to working on our new partnership and enhancing the efficiencies and activity of both markets and the exploring further opportunities for cooperation.”
Mr. Xingqiang Liu, President & CEO of Dalian Commodity Exchange, said: “This cooperative agreement between NYSE Euronext and Dalian Commodity Exchange will further extend and strengthen our efforts in international communications and cooperation. It also brings in opportunities for learning and sharing valuable experience from global derivative markets. NYSE Euronext operates a family of exchanges, located in six countries, includes the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms.”
