Representatives of Chicago Mercantile Exchange (CME) were in China last week continuing to lay the groundwork for potential deals with the country's exchanges and greater distribution of CME products in the region, as well as developing some new Asian-focused contracts.
Craig Donohue, CME's CEO, told FO Week at the China Financial Derivatives Forum in Shanghai that his exchange has been making a more concerted effort over the past year not only to help Chinese regulators and exchanges with the development of their derivatives markets, but also to initiate relationships to further distribute its products in the country. Part of CME's efforts have centred on helping global FCMs gain a foothold in China's markets.
"What we can do is provide a foundation on which our global clearing member firms can increasingly gain entry to the Chinese...