TMX Group Limited (TSX:X) senior executives were in China this week to meet with Chinese government officials and business leaders to further relationships in the region and TMX Group’s client-focused global growth strategy.
During the visit, TMX Group signed a forward-looking Memorandum of Understanding (MoU) with Shanghai Clearing House (SHCH) which builds on almost two years of close collaboration between TMX Group and SHCH. TMX Group’s relationship with SHCH supports foreign institutional investor access to Chinese markets, provides for the parties’ mutual support towards obtaining regulatory and government approvals, and affirms TMX Group’s and SHCH’s desire to create an efficient linkage between North American and Chinese bond markets.
TMX Group has also entered into an MoU with China Central Depository & Clearing Corporation, Limited (CCDC) pursuant to which the two parties intend to initiate a feasibility study of mutual access models, work together to increase understanding of the respective businesses, and evaluate future trade opportunities.
TMX is encouraged by the progress made so far with our dedicated partners in China, as we work to connect North American investors with the deep and liquid bond markets in China,” said Lou Eccleston, CEO, TMX Group. “These relationships represent an important milestone in TMX’s global expansion efforts, as we continue to seek out entry points into new markets and geographies and explore opportunities to deliver valuable solutions to our clients.
We are honoured to be working with Shanghai Clearing House and China Central Depository & Clearing Corporation and look forward to exploring business opportunities together as we deepen our understanding of the Chinese market,” commented Glenn Goucher, Chief Clearing Officer & President, CDCC and CDS, TMX Group.