SINGAPORE, Nov. 20 (Xinhua) – Asia Pacific Exchange (APEX), the first overseas derivatives exchange backed by Chinese investors, had signed a Memorandum of Understanding (MOU) with Jakarta Futures Exchange (JFX) to carry out cooperation in futures trading and knowledge sharing fields, according to a press release issued by APEX.
Signed on November 18, 2019, the MOU will serve as a starting point for the two exchanges to garner interests from international participants to trade in contracts on each other's market, said the release, adding that it will be a fruitful cooperation for both sides.
“We are committed to provide our time and resources so as to achieve mutual benefit between the two exchanges in terms of information and knowledge sharing,” said Zhu Yuchen, Chief Executive Officer of APEX, adding that APEX looks forward to this partnership as well as more opportunities to work together in the future.
Stephanus Paulus Lumintang, President Director of JFX, said he hoped the cooperation with APEX could be used optimally by JFX members and, in turn, delivered benefits to the futures trading community in Indonesia.
APEX was approved to be established in February 2018 with the approval of the Monetary Authority of Singapore (MAS) with both exchange and clearing licenses, making it the third futures exchanges of this kind in Singapore. By now, the exchange has five contracts, of which the Crude Palm Oil Futures Contract is the most active one.
JFX, the first derivatives exchange licensed by Commodity Futures Trading Regulatory Agency in Indonesia, has been in the derivatives industry in Indonesia for 19 years, having conducted its first trading in December 2000. The exchange currently has 80 members, with 19 derivative contracts currently listed on its board. It also runs two physical commodity exchanges whose prices serve as a benchmark for Indonesian government when setting reference price for the respective commodities.
(Contributed by Li Xiaoyu, edited by Bao Nuomin)
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