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​Hong Kong Exchanges, Tokyo Commodity Exchange to boost cooperation

Xinhua Financein HONG KONG
2018-06-12 09:18

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Hong Kong Exchanges and Clearing Limited (HKEX) announced on Monday that it has signed a Memorandum of Understanding (MoU) with Tokyo Commodity Exchange (TOCOM) to further promote cooperation through information exchanges, staff exchanges, product development and joint promotion.

HKEX Chief Executive Charles Li said the signing of the MoU marks the start of a partnership with great potential, as HKEX is dedicated to offering a wide range of asset classes and helping to increase China's influence on global commodity pricing, while TOCOM has many years of experience in the commodity industry.

"Through the enhancement of communication and cooperation, both sides will benefit from the further development in their commodity business," Li said.

Takamichi Hamada, President and Chief Executive Officer of TOCOM, said TOCOM has a proven track record of providing global benchmarks and risk management tools for the precious metals industry, while HKEX holds a unique position in the derivatives space, providing a bridge between the Chinese mainland and the rest of the world, and the agreement will help boost the precious metals market.
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