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The signing of this MOU will mean for the two Exchanges, the initiation of mutual cooperation opportunities through information sharing including amendments to existing contracts, trading methods and new products, and market development. The Exchanges will explore ways to enhance activity and efficiency of both markets while collaborating on educational and marketing programs.
TGE President Takeshi Kubota said, “From the view of long term marketing strategies and global cooperation between agricultural commodity derivatives exchanges, it is only appropriate for the Tokyo Grain Exchange to sign a MOU with the Zhengzhou Commodity Exchange. ZCE is one of the three commodity futures exchanges in China. ZCE lists cotton, wheat and sugar and in the near future, they will be a benchmark for those commodities not only in China but also Asia. We believe that this MOU will reinforce our good relationship which has continued for many years and benefit the markets of both Exchanges. We look forward to working with ZCE.”
Zhao Zhengping, President & CEO of ZCE, said, “The Tokyo Grain Exchange has a history of more than half century in trading commodity futures and has accumulated rich experience, while the Zhengzhou Commodity Exchange, an emerging futures market under the condition of shifting from the planned economy to the market economy of China, has been exploring a characteristic way for serving and promoting the development of national economy. At present, ZCE and TGE are mainly providing agricultural commodity futures, we believe that, signing the Memorandum of Understanding would supply ZCE the opportunities to share TGE’s experience and supply great potentials for the two exchanges to co-operate in expanding market scale and play the functions of futures market. We wish that on the basis of mutual benefit, our co-operation would be happy.
