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Euronext and the Shenzhen Stock Exchange sign MOU

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Euronext and China's Shenzhen Stock Exchange (SZSE) have signed a Memorandum of Understanding (MOU) to enhance the development of ETPs in the Republic of China and the Euronext markets.

The announcement described the MOU as the starting point for collaboration on joint development, research, marketing and specialised trading technology, as well as co-branding of indices and ETPs.
 
The two exchanges have agreed to work closely together to develop ETP trading further. The statement said: “In order to facilitate Chinese residents’ effective and convenient investment in the European market, and European investors in the Chinese market, Euronext and SZSE will collaborate to identify ways to promote cross listings of ETPs where such cross listings are permitted by applicable law or regulation. The exchanges will also collaborate on index-related subjects, research papers or, when appropriate, on index compilation based on global or local markets. Both exchanges will also support each party’s licensing of market data in the other party’s market.”
 
There could be further cooperation in the future on other relevant subjects, such as the development of capital raising facilities for small and medium enterprises, dual listing, the fixed income market and off-shore RMB products.
 
“Our partnership for the joint development of ETPs and Indices in China and Europe is an exciting development,” said Lee Hodgkinson, Head of Markets and Global Sales at Euronext. “The Chinese financial markets are undergoing a remarkable transformation and we are privileged to be in a position to jointly develop innovative new products and create opportunities for trading and investment across both regions.”
 
Liyang Jin, Executive Vice President of SZSE commented: “The Chinese capital market is undergoing profound changes and reform. Besides improving basic equity products, the SZSE is also enriching the product line and building a more open market to provide more liquidity and risk management tools for domestic and foreign investors. The cooperation with Euronext will further facilitate cross-border investment and financing activities.”
 

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