CME Group And Shanghai Clearing House Sign MoU
“We are pleased to enter into this MOU with Shanghai Clearing House, and we believe this will promote greater cooperation, and create a forum for information sharing between the two organizations,” said Phupinder Gill, CME Group Chief Executive Officer. “Through this MOU, we hope to continue to look for opportunities to learn more about Chinese financial markets, and further extend CME Group’s reach into the Chinese marketplace, as China continues on its path of financial market liberalization and RMB internationalization.”
Xu Zhen, Chairman of Shanghai Clearing House, said, “Shanghai Clearing House is committed to setting the benchmark through establishing an internationalized, market-driven clearing services institution. Through this cooperation, we hope to leverage on CME Group’s international experience in financial innovation and global markets, to further enhance our central counterparty clearing mechanisms and financial products innovation, and continue to expand the influence of Shanghai Clearing House in the global financial markets.” The signing ceremony was held in Chicago, and was witnessed by Leo Melamed, Chairman Emeritus, CME Group.