26 minutes
PETALING JAYA: Bursa Malaysia Derivatives Bhd, the Shanghai Futures Exchange (SHFE) and the Shanghai International Energy Exchange (INE) on Tuesday signed a memorandum of understanding (MoU) with the intent to strengthen existing business partnership as well as to share information and best practices pertaining to product development, market operations, and in the areas of common interest for all three markets.
Bursa Malaysia Derivatives CEO Samuel Ho said the signing of this MoU is a positive development that will lay the groundwork for a long-term relationship between Bursa Malaysia Derivatives, SHFE and INE.
“Aside from driving the growth of the Asean derivatives markets, this collaboration will indirectly support and contribute towards the China-Malaysia economic trade, given China’s position as Malaysia’s largest trading partner and rubber importer.
“We look forward to working with SHFE and INE on the development of new products that will not only complement existing offerings, but will also meet the needs of increasingly sophisticated customers,” added Ho.
SHFE and INE CEO Wang Fenghai said the signing of the MoU between SHFE, INE, and Bursa Malaysia Derivatives is the culmination of the three exchanges’ close friendship over the years. He added that SHFE and INE are keen to collaborate with Bursa Malaysia Derivatives in order to learn while deepening mutual understanding of each other’s markets, and provide more risk management tools to investors.
Beyond strengthening the partnership with Bursa Malaysia Derivatives, the MoU is part of SHFE and INE’s commitment to opening up China’s futures market. Currently, INE has attracted overseas investors from more than 20 countries and regions across six continents including Asia, Europe, North America, South America, Africa, and Oceania. It also has the most international products than any other China’s commodity futures exchanges.
