Recently, the Shanghai Futures Exchange (hereinafter referred to as "SHFE") and the Gulf Mercantile Exchange (hereinafter referred to as "GME") signed a memorandum of understanding (MOU) on cooperation, aiming to further strengthen exchanges and cooperation between the two sides in the commodity derivatives markets.
Headquartered in the Dubai International Financial Centre in the UAE, GME, formerly known as the Dubai Mercantile Exchange, is one of the important commodity futures exchanges in the Middle East. According to the text of the MOU, SHFE and GME will jointly explore and deepen cooperation in areas such as product R&D, knowledge sharing, market research, personnel exchanges, market training and promotion, with a view to promoting exchanges and mutual learning between the two markets and providing investors in both regions with a wider range of risk management tools.
A relevant person in charge of SHFE stated that the UAE is an important participant in the joint construction of the Belt and Road Initiative. In recent years, economic and trade cooperation between China and the UAE has continued to deepen. SHFE looks forward to strengthening cooperation with GME in the commodity derivatives market and jointly providing market participants with more efficient risk management and price discovery tools.