HKEX and TOCOM sign MOU 11 June 2018Hong Kong Reporter: Jenna Lomax
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Hong Kong Exchanges and Clearing Limited (HKEX) and Tokyo Commodity Exchange (TOCOM) have signed a memorandum of understanding (MoU) to further promote their cooperation through information exchanges, staff exchanges, product development and joint promotion.
The MOU was signed by Li Gang, co-head of market development at HKEX, and Ryoichi Seki, TOCOM鈥檚 general manager of global business development department, during a ceremony hosted by HKEX.
Charles Li, Takamichi Hamada, and other senior executives from HKEX and TOCOM attended.
Charles Li, HKEX chief executive, said: 鈥淭he signing of the MOU marks the start of a partnership with great potential. HKEX is dedicated to offering a wide range of asset classes and helping to increase China鈥檚 influence on global commodity pricing, while TOCOM has many years of experience in the commodity industry.鈥�
He added: 鈥淭hrough the enhancement of communication and cooperation, both sides will benefit from the further development in their commodity business.鈥�
Takamichi Hamada, president and CEO of TOCOM, commented: 鈥淭OCOM has a proven track record of providing global benchmarks and risk management tools for the precious metals industry.鈥�
He added: 鈥淗KEX holds a unique position in the derivatives space, providing a bridge between Mainland China and rest of the world. Through this agreement, we will work together to develop the precious metals market in both countries.鈥�
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