ZHENGZHOU and TORONTO, April 2, 2014 /CNW/ - Zhengzhou Commodity Exchange (ZCE) and TMX Group today announced the signing of a Memorandum of Understanding (MoU) to enhance their understanding of each others' businesses and to explore the possibilities of cooperation.
Under the MoU, TMX Group and ZCE may evaluate opportunities to engage in cooperative research as well as the potential to provide each other with advisory and consultation services concerning trading technology, risk management, business strategy, market surveillance and new product development.
Top leadership from both organizations applauded the signing of the MoU. Zhang Fan, Chairman of ZCE, expressed his support in the following statement: "By signing this MOU with TMX Group, we hope to take this opportunity to enhance communication and cooperation in areas such as product innovation, market development, technology and risk management. By sharing information and expertise particularly in the area of technology, we look to enhance the status and global influence of ZCE in the international financial marketplace."
Thomas Kloet, CEO, TMX Group added: "This MoU with ZCE represents an opportunity for us to gain new perspectives and explore collaborating further with an important participant in the Chinese marketplace. TMX Group continues to work to build our relationships in China and enhance our knowledge of this key market."
"We are excited to learn more about the ZCE business and assess their specific technology and risk management needs as we look for better ways to serve our wide array of customers," said Brenda Hoffman, Chief Information Officer, Group Head of Technology, TMX Group.
About TMX Group (TSX:X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, NGX, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montréal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.
About Zhengzhou Commodity Exchange (ZCE)
ZCE was established on October 12, 1990. As one of the four regulated futures exchange in China, ZCE adopts a membership system. By the end of 2013, 203 members are registered at ZCE. Currently, ZCE has 13 listed futures products include wheat (Strong Gluten Wheat and Common Wheat), Early Long Grain Non-glutinous Rice, Paddy Rice, Cotton, Rapeseed, Rapeseed Oil, Rapeseed Meal, White Sugar, Steam Coal, Methanol, Pure Terephthalic Acid(PTA) and Flat Glass. In 2013, trading volume and trading turnover for ZCE futures products were 525 million contracts and RMB 18.9 trillion Yuan respectively. According to FIA, ZCE was ranked No. 13 by trading volume among major global derivatives exchanges in 2013.
SOURCE: TMX Group Inc.
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