Shanghai, July 15, 2015 — China Financial Futures Exchange (CFFEX) and Moscow Exchange (MOEX) announced the signing of a Memorandum of Understanding (MoU). The purpose of this MoU is to strengthen bilateral partnership and facilitate development of both parties through information sharing, mutual visit of executives, staff exchange and closer business cooperation in various areas. The MoU was signed by Zheng Hu, CEO of CFFEX and Alexander Afanasiev, CEO of MOEX. Shenfeng Zhang, Chairman of CFFEX and Sergey Shvetsov, First Deputy Governor of the CBR also attended the signing ceremony.
Shenfeng Zhang said, "With the State Council clearly emphasizing the importance of further developing financial derivatives in China in its 2015 annual government work report, CFFEX presses on with its efforts to facilitate the healthy and regulated growth of China's financial futures market. To that end, it is crucial to draw from advanced overseas experience and strengthen cross-border communication and cooperation so as to seek global development. The signing of this MoU will further cement the relationship between CFFEX and MOEX, generating new opportunities for the two exchanges to step up cooperation in the common pursuit for development."
Alexander Afanasiev said, "In recent years China has become Russia’s biggest trading partner, and that cross-border commerce is increasingly settled in our national currencies. Likewise, Yuan-Rouble trading on Moscow Exchange has grown rapidly, increasing sevenfold last year alone. Based on client demand, we additionally launched Yuan-Rouble futures trading earlier this year, and in just a few months the instrument has become a core offering on our FX derivatives platform. Today’s MoU with CFFEX is the first step in exploring new opportunities for cooperation on various fronts."
With the approval of the State Council and the authorization of China Securities Regulatory Commission (CSRC), China Financial Futures Exchange (CFFEX) was jointly founded by Shanghai Futures Exchange, Zhengzhou Commodity Exchange, Dalian Commodity Exchange, Shanghai Stock Exchange and Shenzhen Stock Exchange on September 8, 2006 in Shanghai. Having successfully launched five products, i.e. CSI 300 stock index futures, SSE 50 stock index futures, CSI 500 stock index futures, 5 year government bond futures and 10 year government bond futures, CFFEX is now working to further expand its product offering to cover stock index options, foreign exchange futures and interest rate futures. In 2014, a total of 218 million contracts were traded at CFFEX. According to 2014 FIA Annual Volume Survey, CSI 300 stock index futures ranked the 4th most actively traded stock index futures worldwide.
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Moscow Exchange provides exhaustive and convenient access to the Russian financial markets. The Exchange's markets offer clients trading opportunities across a diversified range of asset classes all combined with best-in-class post-trade services. The Exchange is the main liquidity and price discovery centre for Russian instruments, hosting trading in equities, bonds, derivatives, currencies, money market instruments and commodities. The Group also includes Russia's central securities depository, National Settlement Depository, as well as National Clearing Centre, which performs the function of central counterparty. Moscow Exchange ranks among the world's top 20 exchanges by total capitalization of shares traded, and also among the 10 largest exchange platforms for bonds and derivatives trading.