27 March, 2017 – Moscow Exchange ("MOEX") and Dalian Commodity Exchange ("DCE"), announced today that they have signed a Memorandum of Understanding ("MOU"), aimed at expanding the cooperation between the two exchanges in terms of information sharing, high-level visits, training and exchange programmes for staff, and other areas of business cooperation.
Li Zhengqiang, Chairman of DCE, said during the signing ceremony: "We are very pleased to have reached this agreement with MOEX, and view this as an important strategic initiative for us. We have been very impressed by the reforms and infrastructure developments that MOEX has carried out over the past few years, and the continued promotion of the Chinese Government"s "One Belt One Road" strategy will open up new opportunities for cooperation between Russia and China in the financial sector. This will also help DCE to promote its internationalization strategy, as well as increasing its links to emerging derivatives markets."
Alexander Afanasiev, CEO of MOEX, added: "We are delighted to sign this MOU with DCE, a leading commodity futures exchange around the world. China is an important trading partner for Russia, and we see great potential to continue growing stronger and deeper ties in both commodities and capital markets. The signing of the MOU will be of considerable benefit to both sides, paving the way for both exchanges to pursue new areas of cooperation."
Founded on 28 February 1993, Dalian Commodity Exchange (DCE) is one of the four futures exchanges under the supervision and administration of the China Securities Regulatory Commission (CSRC) upon the approval of the State Council, and also the only futures exchange in Northeast China. Among its 16 listed futures products approved by the CSRC are corn, No. 1 soybeans (non-gmo), No. 2 soybeans (gmo), soybean meal, soybean oil, RBD palm olein, corn, corn starch, egg, linear low density polyethylene (LLDPE), polyvinyl chloride (PVC), polypropylene (PP) , coke, coking coal, iron ore, fiberboard and blockboard. In 2016, DCE achieved trading volume of 1.54 billion contracts with turnover of 61.41 trillion RMB. According to FIA statistics, DCE ranks at 8th among global derivatives exchanges.
Moscow Exchange Group manages Russia's main exchange platform for equities, bonds, derivatives, currencies, money market instruments and commodities. The Group includes Russia's central securities depository (National Settlement Depository) and a clearing centre (Bank "National Clearing Centre") that performs the functions of central counterparty on all markets, allowing Moscow Exchange to offer its customers the full spectrum of trading and post-trade services.
Moscow Exchange ranks among the world's top 25 exchanges by total volume of equities traded, and among the three largest exchange platforms for bond trading and for derivative trading. As of 1 March 2017 securities of 692 issuers were admitted to trading on Moscow Exchange"s Equities & Bonds Market.
Moscow Exchange was formed in December 2011 from the merger of Russia's two main exchange groups – MICEX Group, the oldest domestic exchange and operator of the leading securities, foreign exchange and money market platform in Russia; and RTS Group, the operator of Russia's leading derivatives market. This combination created a vertically integrated public trading market across most major asset classes. Moscow Exchange held an initial public offering in February 2013 and trades under the ticker symbol MOEX.
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