Chinese equity and Singaporean commodity exchanges sign agreement signalling closer co-operation
Cleartrade Exchange (CLTX) and China Beijing Equity Exchange (CBEX) have announced the signing of a memorandum of understanding, allowing them to share information and develop joint projects which will benefit members of both exchanges. Beijing-based CBEX is a leading exchange in China and is the parent company for various other exchanges, including the China Beijing International Mining Exchange (CBMX) and the Beijing Petroleum Exchange (BPEX).
Zhi Rui Ang, Operations Director for CLTX, said: “We are very happy to sign this agreement with CBEX. We are constantly working to develop strategic partnerships which will deliver long term value to both our existing and future members and clearly Asia is a very important region for us. We are very excited about the opportunities that this partnership will bring. Globally we are seeing a significant and increasing demand for commodities and China is a major and continually growing consumer of physical commodities. Initiatives such as this are part of CLTX’s wider strategy to connect markets and regions to allow organisations involved in global commodities trading to manage risk in one central, transparent and regulated marketplace.”
Ma Li, Vice President of CBEX, said: “Despite a relatively short history, CLTX has got a rich experience in setting up a structured exchange framework. We have mutually benefitted from our exchange of information and believe that it will aid our future developments.”
The partnership between CBEX and CLTX is in its early stages and we look forward to announcing the details of our joint activities and developments during the course of the year.