The Shanghai Futures Exchange and the Gulf Mercantile Exchange recently signed a Memorandum of Understanding to enhance cooperation and exchanges in the commodity derivatives market.

Under the MoU, the two exchanges will explore collaboration in various areas, including product development, knowledge sharing, market research, talent exchange, and market training and promotion.

SHFE expressed its commitment to deepening cooperation with GME in the commodity derivatives sector, with the aim of providing market participants with more effective risk management and price discovery tools.

Headquartered in the Dubai International Financial Centre, GME — formerly known as the Dubai Mercantile Exchange — is a leading commodity futures exchange in the Middle East.

A representative from SHFE noted that the United Arab Emirates is an important participant in the Belt and Road Initiative and that economic and trade cooperation between China and the UAE has continued to deepen in recent years.

Source: Shanghai Futures Exchange