INTERNATIONAL: China Foreign Exchange Trade System and Deutsche B&oumlrse Sign Cooperation Agreement

Thursday October 29 2015

On 29th October 2015, China Foreign Exchange Trade System (CFETS) and Deutsche Börse entered into a strategic cooperation agreement to connect the respective markets and foster product innovation.

Both partners agreed to establish a new joint venture in Germany in which each side will hold a 50 per cent ownership. The new company will pursue three main objectives: first, to enable and support China interbank market participants to trade Deutsche Börse’s cash and derivatives products; second, to enable and support Deutsche Börse market participants to trade China interbank market products; and third, to develop and offer RMB-denominated interest rate and exchange rate (FX) products outside mainland China. Based on the cooperation agreement, both parties will interact closely with each other and advance step by step, striving for the implementation of the cooperation objectives as soon as possible.

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