TMX signs deal with Chinese commodity exchange
Agreement with Zhengzhou Commodity Exchange to explore future co-operation
TMX Group has signed an agreement with the Zhengzhou Commodity Exchange in China to understand each other’s business and explore the possibilities of co-operation.
TMX Group, which operates the Toronto Stock Exchange, TSX Venture Exchange, Montreal Exchange, NGX and BOX Options Exchange, described the deal as a chance to compare experiences on trading technology, risk management, business strategy and market surveillance.
"TMX Group continues to work to build our relationships in China and enhance our knowledge of this key market," chief executive Thomas Kloet said in a statement Wednesday.
Zhengzhou Commodity Exchange, one of the four regulated futures exchange in China, trades wheat, rice, sugar, steam coal and canola futures.
ZCE chairman Zhang Fan said the commodity exchange hopes to foster co-operation with TMX in areas such as product innovation and market development.
"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," he said.