Chicago Board of Trade (CBoT) announced today that it has
signed a memorandum of understanding (MOU) to pursue
cooperative and potential joint business initiatives with
China's Dalian Commodity Exchange (DCE).
Under the agreement, the two exchanges will share
information on market and product development and potentially
work towards developing markets for new derivative
DCE also entered into a MOU with Tokyo Grain Exchange (TGE),
at the same time.
CBoT's interest may have been sparked by potential synergies
between its own soybean market and DCE's, which is the second
largest soybean futures and the largest non-GMO soybean futures
exchange in the world. Its market is 22.5% the size of CBoT's
soy market and seven times that of TGE's, according to DCE's
website. The exchange has 192 member firms and more than 90,000
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