Asian Commodity Exchanges Sign MOU on Cooperative Agreement

The Central Japan Commodity Exchange and the Dalian Commodity Exchange have signed the Memorandum of Understanding on the formation of cooperative relationship for the projects to benefit both exchanges.

C-COM is the eighth largest commodity exchange in the world.

The MOU will focus on development and information sharing, but both exchanges have agreed to expand the areas of cooperation in accordance with the arising needs in the future.

Fumihiko Kimura, chairman & CEO of C-COM, said, noted one area where the two sides may focus some energy is C-COM’s recent launch of ferrous scrap market. In deciding to work with the DCE, Kimura said the sharp increase in the import of scrap into China is expected to further increase owing to her rapid economic growth.

“I believe that Chinese market, which has infinitive potentiality will be liberalized in the very near future, and with this wonderful partner, C-COM will be in a far better position to start the business with Chinese investors. Meanwhile, we are more than happy to extend our hands to DCE in their development of Japanese market,” Kimura said

Yuchen Zhu, president & CEO of DCE, said, “The DCE has actively developed international communication and cooperation for years and makes a great progress. With innovation and vigor, the C-COM recently made a successful achievement on international development and product innovation. We are pleased that two exchanges signed this agreement. We do believe that both China and Japan’s futures markets have huge potential to develop, and are optimistic with the future of cooperation between us. Finally, we sincerely congratulate on C-COM’s successful launch of ferrous scrap.”