Canadian exchange group TMX Group has signed an agreement with the Industrial and Commercial Bank of China (ICBC) to explore potential collaborations in post-trade services.
The memorandum of understanding (MOU) sets out a framework for evaluating new business opportunities, including establishing clearing, settlement and risk management mechanisms.
“We are very encouraged with the recent progress in trade relations between China and Canada, highlighted by the official launch of RMB clearing in Canada. We believe this progress will also enhance the pleasant business relationship with TMX Group.” Says Shu Gu, senior executive vice president, ICBC.
TMX Group to Explore Clearing and Settlement Links with China
Canadian exchange group TMX Group has signed an agreement with the Industrial and Commercial Bank of China (ICBC) to explore potential collaborations in post-trade services.