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The
Clearing
Corporation™ Announces Cooperation Agreement with China's
First Futures Exchange
Chicago, January 10, 2005
The
Clearing Corporation ("CCorp") announced today that
it has signed a Memorandum of Understanding ("MOU")
under which it will provide a variety of consulting services
to the Zhengzhou Commodity Exchange ("CZCE"), China's
first futures exchange.
Dennis Dutterer, President and CEO of CCorp, led a delegation
of CCorp officials to the exchange in Zhengzhou, a city of 6
million in central China, in October, resulting in the signing
of the MOU recently. Under the agreement, CCorp will provide
CZCE with consulting services related to futures and options
trading, clearing, settlement and risk management.
"CCorp is thrilled to be involved in this new alliance
with China's first futures exchange," Dutterer said. "China's
extraordinary economic growth demonstrates the need for increasingly
sophisticated risk management systems and processes, which we
will help the Zhengzhou exchange to develop."
"Along with our recently announced clearing technology
agreement with the JSE Securities Exchange of South Africa,
this new alliance demonstrates CCorp's commitment to exporting
its wealth of expertise in risk management systems and technology
on a global basis," Dutterer added.
About The Clearing Corporation
The Clearing Corporation, a stockholder-owned, Delaware corporation
now in its 80th year of business, is the only active independent
futures clearinghouse in the world. Additional information
on The Clearing Corporation is available at www.clearingcorp.com.
About
The Zhengzhou Commodity Exchange
Zhengzhou
Commodity Exchange is the first futures exchange founded in
China. It is under the jurisdiction of China Securities Regulatory
Commission. It provides infrastructure and service for the
matching and trading of futures contracts. It is a self-regulatory
legal entity. More information is available at www.czce.com.cn.
Media contacts:
CCorp Andrew Yemma, Intermarket Communications +1-212-888-6115
x 225
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