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from left: Ms. Catherine Yu Jinhuan, Office Manager of CFA; Mr. Zheng
Xiaoguo, Vice Chairman of CFA; Mr. Liu Zhi Chao, Chairman of CFA; Mr.
Gaurang Desai, Interim CEO, DGCX; Mr. Meng Chan Shu, Head of Product
Management and Head of Asia, DGCX.
The
Dubai Gold & Commodities Exchange (DGCX) further expanded its
relationship with the Chinese derivatives market with the signing of a
Memorandum of Understanding (MoU) with the China Futures Association
(CFA).
The agreement seeks to enhance ties between the markets of China and the UAE, with a focus on increasing interaction between key players in the derivatives industry both in the private and public sectors.
China
Futures Association (CFA) is a Beijing-headquartered non-profit
self-regulatory industry body with the capacity to implement laws,
regulations and policies for the futures market. It acts as the bridge
between the government and the futures market, exercising
self-regulation and safeguarding the legitimate interests of its
members. It is also committed to pushing for the sound and stable
development of China's futures market, via maintaining the transparency,
fairness and equality in the futures market, providing training on
professional ethics, and boosting standards.CFA members include futures
brokerage firms, futures exchange special members and licensed
individual futures traders.
Gaurang
Desai, Interim Chief Executive Officer of DGCX, said: "We are delighted
to have signed this MoU with CFA. Not only will this bring us closer to
the Chinese derivatives market, it will also allow us to gain a better
understanding of each other's strategies and business goals to leverage mutual
synergies It is important for us to expand our relationships with
markets across the world, and this can only be done through partnerships
like these that offer us the opportunity to have first-hand
interactions with the key stakeholders of the market."
Mr. Zhichao Liu, Chairman of CFA said: "This is an exciting partnership for us. DGCX's large member
community, as well as its substantial leadership in the region's
financial markets provides us with opportunities to expand our own
global network of relationships. This MoU will be a significant opportunity to support each other's growth by sharing best practices, industry knowledge and market information. "
This
MoU is one among a growing number of industry partnership agreements
signed between the UAE and China in the last few years. These agreements
provide a platform for expanding cooperation and promoting investments
in each other's countries.
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