Shanghai, July 15, 2015 — China Financial Futures Exchange (CFFEX) and Moscow Exchange (MOEX) announced the signing of a Memorandum of Understanding (MoU). The purpose of this MoU is to strengthen bilateral partnership and facilitate development of both parties through information sharing, mutual visit of executives, staff exchange and closer business cooperation in various areas. The MoU was signed by Zheng Hu, CEO of CFFEX and Alexander Afanasiev, CEO of MOEX. Shenfeng Zhang, Chairman of CFFEX and Sergey Shvetsov, First Deputy Governor of the CBR also attended the signing ceremony.
Shenfeng Zhang said, "With the State Council clearly emphasizing
the importance of further developing financial derivatives in China in
its 2015 annual government work report, CFFEX presses on with its
efforts to facilitate the healthy and regulated growth of China's
financial futures market. To that end, it is crucial to draw from
advanced overseas experience and strengthen cross-border communication
and cooperation so as to seek global development. The signing of this
MoU will further cement the relationship between CFFEX and MOEX,
generating new opportunities for the two exchanges to step up
cooperation in the common pursuit for development."
Alexander
Afanasiev said, "In recent years China has become Russia’s biggest
trading partner, and that cross-border commerce is increasingly settled
in our national currencies. Likewise, Yuan-Rouble trading on Moscow
Exchange has grown rapidly, increasing sevenfold last year alone. Based
on client demand, we additionally launched Yuan-Rouble futures trading
earlier this year, and in just a few months the instrument has become a
core offering on our FX derivatives platform. Today’s MoU with CFFEX is
the first step in exploring new opportunities for cooperation on various
fronts."
About CFFEX
With the approval of the State
Council and the authorization of China Securities Regulatory Commission
(CSRC), China Financial Futures Exchange (CFFEX) was jointly founded by
Shanghai Futures Exchange, Zhengzhou Commodity Exchange, Dalian
Commodity Exchange, Shanghai Stock Exchange and Shenzhen Stock Exchange
on September 8, 2006 in Shanghai. Having successfully launched five
products, i.e. CSI 300 stock index futures, SSE 50 stock index futures,
CSI 500 stock index futures, 5 year government bond futures and 10 year
government bond futures, CFFEX is now working to further expand its
product offering to cover stock index options, foreign exchange futures
and interest rate futures. In 2014, a total of 218 million contracts
were traded at CFFEX. According to 2014 FIA Annual Volume Survey, CSI
300 stock index futures ranked the 4th most actively traded stock index
futures worldwide.
About Moscow Exchange
Moscow Exchange
provides exhaustive and convenient access to the Russian financial
markets. The Exchange's markets offer clients trading opportunities
across a diversified range of asset classes all combined with
best-in-class post-trade services. The Exchange is the main liquidity
and price discovery centre for Russian instruments, hosting trading in
equities, bonds, derivatives, currencies, money market instruments and
commodities. The Group also includes Russia's central securities
depository, National Settlement Depository, as well as National Clearing
Centre, which performs the function of central counterparty. Moscow
Exchange ranks among the world's top 20 exchanges by total
capitalization of shares traded, and also among the 10 largest exchange
platforms for bonds and derivatives trading.
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