Zhengzhou Commodity Exchange and TMX Group Sign Memorandum of Understanding
Zhengzhou Commodity Exchange (ZCE) and TMX Group announced on 2 April 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.