China Financial Futures Exchange (CFFEX) and Moscow Exchange, Russia’s prominent executing venue known as Moskovskaya Birzha OAO (MCX:MOEX) in Russian, today announce the signing of a Memorandum of Understanding (MoU). The MoU aims to strengthen bilateral partnership and facilitate the development of both parties through information sharing, reciprocal visits by senior 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 Central Bank of Russia, 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 on 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” concluded Mr. Zhang
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-Ruble trading on Moscow Exchange has grown rapidly, increasing sevenfold last year alone. In response to client demand, we also launched Yuan-Ruble 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.”
For the official announcement from Moscow Exchange, click here.