TORONTO – TMX Group (TSX:X) has signed an agreement with the Zhengzhou Commodity Exchange in China to better understand its business and explore the possibilities of co-operation.
TMX Group chief executive said the deal gives the operator of the Toronto Stock Exchange an opportunity to gain new perspectives and explore collaborating further with the Chinese firm.
“TMX Group continues to work to build our relationships in China and enhance our knowledge of this key market,” chief executive Thomas Kloet said in a statement.
Under the memorandum of understanding, the operator of the Toronto Stock Exchange and the Chinese company “may evaluate opportunities to engage in co-operative research as well as the potential to provide each other with advisory and consultation services.”
ZCE chairman Zhang Fan said the commodity exchange hopes to improve communication and co-operation in areas such as product innovation, market development, technology and risk management.
“By sharing information and expertise particularly in the area of technology, we look to enhance the status and global influence of ZCE in the international financial marketplace,” he said.
In addition to the Toronto Stock Exchange and the junior TSX Venture Exchange, the TMX Group’s business also includes the Montreal Exchange, NGX and BOX Options Exchange.