CME Group (Nasdaq: CME), the world's largest and most diverse derivatives exchange, and Osaka Securities Exchange Co., Ltd. (OSE), the premier Japanese derivatives and securities exchange, today announced that they have signed a memorandum of understanding to pursue opportunities to jointly develop products and services that will benefit market users globally.
"We are pleased to enter into this MOU with OSE and begin a formal dialogue between our exchanges," said CME Group Executive Chairman Terry Duffy. "Under this agreement, we expect to create additional trading opportunities and increase access to more markets for the customers of both organizations."
"Through this MOU with OSE, we hope to further extend CME Group's reach into the Asian market place," said CME Group Chief Executive Officer Craig Donohue. "Currently, through our respective licensing agreements, we both offer futures on the Nikkei Stock Average, the Nikkei 225, the most widely traded Japanese equity index product, during complementary hours -- making it available to market users virtually around the clock. By working directly with OSE, we hope to identify additional opportunities to create new benefits for our customers."
OSE President & CEO, Michio Yoneda said, "We believe that cooperation between CME Group, the world's largest and most advanced exchange, and OSE, the Japan's largest derivatives exchange, will be beneficial to investors in Japan and around the world. Also, we hope this new partnership will advance the presence of OSE throughout the world. Especially, the futures products on the Nikkei Stock Average, which are listed on both of our exchanges and well-established as a benchmark of the Japanese market, have an intrinsic potential for further growth through mutual cooperation."
