The MOU agreement opens the way for the development of business opportunities to enhance efficiency, integrity and liquidity on both Exchanges including information sharing and market building. The two Exchanges plan to cooperate in several marketing and educational areas such as training sessions on new products and services, and industry research symposiums. The TGE and NYBOT will also closely monitor and share information about changes to existing contract specifications, trading methods and new products.
TGE Chairman Takao Morisane said, “NYBOT and TGE share markets for common tropical commodities and have a long history of communication. This MOU reinforces our determination to aggressively enhance our coffee and raw sugar markets and to further augment foreign participation.”
NYBOT President and CEO, Charles H. Falk said, “The New York Board of Trade, as a global commodity exchange, is very pleased to find excellent international partners, such as TGE, to share in the development of traditional futures and options markets. The NYBOT and TGE, through this MOU, will pursue important areas of cooperation that will help increase accessibility to our pricing tools so critical to the growth of the worldwide free marketplace.”
