The transatlantic stock exchange NYSE-Euronext said Wednesday it had signed a memorandum of understanding with the Zhengzhou Commodity Exchange (ZCE) of China to develop derivatives markets in China and the United States.
A joint statement said the two groups would "exchange information on futures and options markets, including technology, laws and policies, and assist each other to gain a better understanding of each other's markets locally and globally."
"We are committed to the success of this alliance as part of our long-term commitment to China," said NYSE Euronext chief executive Duncan Niederauer.
Added Zhao Zhengping, head of ZCE: "ZCE is devoting itself to be a diverse and modern futures market by researching and developing futures and options of industrial and energy products as well as commodities indexes."
NYSE-Euronext operates markets in New York, Paris, Amsterdam, Brussels and Lisbon and controls Liffe, a global derivatives business.
