CME to lead derivatives market

The Merc is trying to position itself to lead an evolving market for derivatives in China, Asia's biggest economy after Japan, along with banks such as Citigroup Inc and HSBC Holdings Plc and rival exchange the Chicago Board of Trade. The Merc co-hosted a futures conference in China yesterday w...

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Bibliographic Details
Published inChina daily (North American ed.)
Main Author Nandini Sukumar and Ann Saphir
Format Newspaper Article
LanguageEnglish
Published New York, N.Y China Daily 27.09.2005
EditionNorth American ed.
Subjects
Currency
Derivatives
Donohue, Craig
Interest rates
Renminbi
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Summary:The Merc is trying to position itself to lead an evolving market for derivatives in China, Asia's biggest economy after Japan, along with banks such as Citigroup Inc and HSBC Holdings Plc and rival exchange the Chicago Board of Trade. The Merc co-hosted a futures conference in China yesterday with the Shanghai Stock Exchange and the Shanghai Futures Exchange. As well as its US-listed contracts, the Merc expects to sell technology and clearing services to Chinese exchanges and banks building a domestic market for foreign-exchange and interest-rate contracts, [Craig Donohue] said in Chicago on Friday, before leaving for Shanghai. The Merc made a similar push in Europe 25 years ago by providing technological and other assistance to exchanges there. Those markets, including Frankfurt-based Eurex AG and London- based Euronext.liffe, have become the Merc's biggest global competitors.
ISSN:0748-6154