Date：June 23, 2014
Source: China Securities Journal

　　On June 25, 2014, the Shanghai Futures Exchange (SHFE) and Industrial Bank Co., Ltd. (IB) signed in Shanghai an agreement on strategic cooperation. According to the agreement, both sides will, by adopting the principal line of “innovation-driven and transformational development” and combining the business characteristics and competitive edges of their own, deepen the cooperation in services, product innovation, channel sharing, customer resource development, personnel training and market cultivation, cooperative research, and information exchange. They will also set up a daily joint coordination mechanism, implement all provisions in the cooperation agreement and promote the substantial progress of all business cooperation.
　　With regard to professional cooperation and services, IB will actively participate in the trading, delivery and relevant innovative businesses related to the SHFE’s listed products, and strengthen risk research and risk control together with the SHFE. Besides, it will actively research and develop the supporting services that are suitable for the futures assets management business, including product research and development and relevant financial services and support, with an aim to further encourage institutional investors to participate in the SHFE’s market.
　　In terms of product innovation and business development, both sides will strive to promote their cooperation in futures delivery which includes but not limited to futures delivery warehouse management, standard warehouse receipt financing and bonded delivery. They will also explore internationalized products and service systems and jointly research to promote such innovative businesses as multi-currency settlement, cross-border settlement, and offshore business.