The Tokyo Commodity Exchange, Inc. (TOCOM) announced today the signing of a Memorandum of Understanding (MOU) with China Futures Association (CFA) on December 4 and China Xin Yongan Futures Company (XYA) on December 3, respectively while participating in the 12th China International Derivatives Forum. The forum took place in Shenzhen, China from December 2nd to 4th, 2016.
1. Agreement with China Futures Association (CFA)
(1) About CFA
• China Futures Association (CFA) is a national self-disciplinary organization of futures industry founded according to Regulations for Registration and Management of Social Organizations and Regulation on the Administration of Futures Trading. CFA is headquartered in Beijing.
• CFS’s functions include: a) accrediting, managing and revoking the qualification of futures sales representatives; b) supervising and inspecting the practices of members and futures sales representatives; c) providing programs of investor education and futures market development and d) establishing cooperative relationship with overseas futures exchanges.
(2) Objectives of MOU
• Two parties will look toward building foundations for information sharing by maintaining regular networking in order to promote mutual understanding.
• Two parties will work together to improve understanding of the financial markets of each other by conducting various educational opportunities including mutual dispatch of employees.
2. Agreement with China Xin Yongan Futures (XYA)
(1) About XYA
• Incorporated in 2006, China Xin Yongan Futures Company (XYA) is a Hong Kong subsidiary of Yongan Futures. Yongan Futures was founded in 1997 based in Hangzhou. It is one of the largest futures brokerages in China with stock capitalization of 860 million RMB.
• Yongan Futures is a clearing participant of Shanghai Futures Exchange, Dalian Futures Exchange, Zhengzhou Futures Exchange and China Financial Futures Exchange. It operates 38 branch offices across China.
(2) Objectives of MOU
• Two parties will jointly conduct marketing activities in China.
• TOCOM supports XYA in its application for a TOCOM remote broker membership.
