CHICAGO, March 1, 2012 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, and Bank
of China, the most internationalized and diversified bank in
China, today announced they have
signed a Memorandum of Understanding to explore and potentially
collaborate in a long-term business relationship that will harness
the strengths of both organizations to provide mutual benefits as
both parties grow their global businesses.
The non-binding agreement provides for the establishment of
information-sharing links which cover education, training and
marketing; in addition, the companies will focus on future business
opportunities facilitating cross-border trading in commodities
futures and options, subject to the applicable regulations.
BOCI Commodities & Futures Limited ("BOCI C&F"), a
wholly-owned subsidiary of Bank of China, is a clearing member of each of CME,
CBOT, NYMEX and COMEX. BOCI C&F currently facilitates
access to CME Group's exchange-listed futures and options products
for permitted entities, and has taken a role in customer
acquisition and service provision for investors permitted to trade
in CME Group products. The two parties will look to further
strengthen the role of BOCI C&F as a clearing member. CME
Group will assist BOCI C&F with investor education, business
development, and employee training to further augment the business
offerings of BOCI Global Commodities.
"With the increasing openness and sophistication of China's futures markets, CME Group believes in
the value of cooperating with leading institutions like Bank of
China and its subsidiaries as they
provide education on CME Group products and services to their
expanding customer base," said Phupinder
Gill, CME Group President. "This agreement will lay the
foundation for what we hope will be a long and successful
relationship between our companies."
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers
together through its CME Globex® electronic trading platform and
its trading facilities in New York
and Chicago. CME Group also operates CME Clearing, one of the
world's leading central counterparty clearing providers, which
offers clearing and settlement services for exchange-traded
contracts, as well as for over-the-counter derivatives transactions
through CME ClearPort®. These products and services ensure
that businesses everywhere can substantially mitigate counterparty
credit risk in both listed and over-the-counter derivatives
markets.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. All other trademarks are the property of their
respective owners. Further information about CME Group (NASDAQ:
CME) and its products can be found at www.cmegroup.com.
SOURCE CME Group