CME, China Foreign Exchange In MOU To Establish U.S. Joint Venture

(RTTNews) - Futures exchange operator CME Group Inc (CME) and China Foreign Exchange Trade System on Wednesday signed a Memorandum of Understanding with a view to establish a joint venture in the U.S.

The MOU is to implement the outcome from the 7th U.S. and China Strategic Economic Dialogue, which envisions CME Group and China Foreign Exchange Trade System ("CFETS") exploring opportunities and promoting each other's market infrastructure and products through cooperation programs, and facilitating the development of both countries' markets.

"China is key to our global growth strategy, and this MOU with CFETS marks another key development in our China roadmap," said Phupinder Gill, Chief Executive Officer of CME Group.