Dalian Commodity Exchange (DCE) and Borsa İstanbul signed a memorandum of understanding (MoU) with an aim to seek to cooperate in information sharing, product promotion and staff exchange.
Dalian Commodity Exchange (DCE) and Borsa İstanbul signed a memorandum of understanding (MoU) on October 23 in Istanbul, Turkey, with an aim to seek to cooperate in information sharing, product promotion and staff exchange.
DCE Chairman Li Zhengqiang said that DCE had been attaching high importance to globalization and opening-up. The “One Belt and One Road” strategy of the Chinese Government provides a new opportunity for cooperation among all the relevant exchanges. As Borsa İstanbul boasts a high globalization level, through this cooperation, we expected to create better chances for communication and cooperation, further cement and extend the connection of DCE with the emerging derivatives market, propel the internationalization strategy of DCE and facilitate the implementation of the “One Belt and One Road” strategy.
“We are extremely pleased to sign the MOU with DCE which is one of the world’s most prominent commodity futures exchanges. In addition to contributing to our opening-up towards overseas markets, this cooperation will help us to further understand China’s derivatives market which is growing rapidly in recent years. And we hope, through this opportunity, to achieve a win-win situation for the prosperous development of both sides. Our derivatives market is a fast growing market with growing trading volumes and expanding product range. Today’s signing represents another important milestone in its progress.” said Tuncay Dinc, CEO of Borsa İstanbul.
About Dalian Commodity Exchange (DCE)
Founded on February 28, 1993 and commenced trading on November 18 in the same year, Dalian Commodity Exchange (DCE) is one of the four futures exchanges under the supervision and administration of the China Securities Regulatory Commission (CSRC) upon the approval of the State Council. Upon approval by the CSRC, DCE has so far listed a total of 16 commodity futures products. By the end of 2014, DCE had 170 members and 193 designated delivery warehouses. In 2014, DCE achieved 770 million contracts and RMB41.5 trillion in trading volume and turnover, respectively. According to the Futures Industry Association (FIA) of the U.S., DCE’s trading volume ranked 10th out of the global leading derivative exchanges in 2014.
About Borsa İstanbul
Borsa İstanbul, with historical roots going back to 1873, is a diversified regional exchange in Turkey, providing trading, settlement, custody and registry services for equities, derivatives, fixed income & repo, precious metals and Islamic finance markets.The Company operates under a single umbrella, following its de-mutualization and incorporation in 2012, and successful completion of horizontal integration (via the acquisition of the derivatives and gold exchanges), and of vertical integration (via control of the two domestic post trade firms), shortly thereafter.
Through its markets, Borsa İstanbul offers corporates, investors and traders in the region a broad range of financial products suited to their needs, and efficient access to extensive capital markets. Post trade and depository services are offered by its majority-owned subsidiaries of Takasbank (Istanbul Settlement and Custody Bank) and MKK (The Central Securities Depository). Borsa İstanbul calculates 360 indices that measure and benchmark equity and fixed income markets in Turkey.
Borsa İstanbul is a shareholder in the Sarajevo, Baku, Kyrgyz, and Montenegro Stock Exchanges, as well as LCH. Clearnet. For further information, please visit Borsa İstanbul at http://www.borsaistanbul.com/ and follow us on Facebook (www.facebook.com/borsaistanbulEN), and Twitter (www.twitter.com/borsaistanbulEN).
