China has moved closer to developing its domestic derivatives industry through a memorandum of understanding signed between the International Swaps and Derivatives Association (Isda) and the China Futures Association (CFA).
Signed by Scott O’Malia, CEO of Isda, and Zhichao Liu, chairman of the CFA, the memorandum is intended to facilitate sharing of ideas that will help bring best practise to those active in the industry locally.
The memorandum covers information sharing and exchange, regular communication to promote understanding and cooperation, exchange of staff and training, and co-hosting of educational industry conferences. It will last for a period of five years, starting 4 December, 2015.
Liu said: “We are very pleased to sign this MoU with Isda, and look forward to working together toward the same goal of educating market participants. With the joint efforts of both parties, we truly believe this collaboration will promote the development of the derivatives industry. We look forward to working with Isda in the years ahead.”