CME, China Foreign Exchange Agree On Cooperation

(RTTNews) - Futures exchange operator CME Group Inc (CME) and China Foreign Exchange Trade System ("CFETS") on Friday said they will cooperate to explore opportunities and promote each other's market infrastructure and products. The signing of the agreement marks an important step in implementing the outcome from the 7th US and China Strategic Economic Dialogue.

Under the definitive agreement, CME Group and CFETS have committed to participate in the joint development and innovation of offshore RMB products.

Both parties have also committed to greater connectivity in product distribution, with CME Group facilitating its customers to trade China interbank products, and CFETS facilitating China interbank market participants to trade CME Group's products.