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Cash & Securities Services: US Exchanges Knock On China's Open Door - US Exchanges Are Taking Advantage Of Improving Relations With China And Clinching Significant Business Deals. Jim Kharouf Reports.

Publication: The Banker
Publication Date: 01-MAY-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Byline: Jim KHAROUF

China has long been a focal point for US derivatives exchanges that see its financial markets as the next growth frontier. After years of talks and friendly visits, US exchanges are closing significant business deals in China and beginning to tap into its enormous potential.

Virtually every Chicago and New York futures exchange has signed memorandums of understanding (MOUs) with Chinese exchanges, an often non-committal, ceremonial arrangement. But an MOU between Chicago Mercantile Exchange (CME) and China Foreign Exchange Trade System & National Interbank Funding Centre (CFETS) signed in 2004 blossomed into the first major deal between a US exchange and...

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