Chicago-based CME Group Inc. (CME) has inked a deal with China Financial Futures Exchange Inc. (CFFEX) that will offer market data services to the former.
The Shanghai-based China Financial Futures Exchange (CFFEX) is an electronic platform for financial derivatives and the world's 24th largest derivatives exchange.
The agreement will provide customers of CME Group’s data distribution platform access to the latest data from the only financial derivatives exchange in mainland China.
With this strategic partnership, CME Group will help global customers reach out to the booming Chinese market. The company will also help increase circulation of CFFEX’s benchmark products in the international market, as China continues to tread the path of financial market liberalization.
CFFEX aims at gaining competitive edge globally through complete market functions, corporate governance and solid operational efficiency. Global expansion plays an important role for CFFEX as well as CME Group in market growth.
With this alliance, CME Group, as the leading global and most diverse derivatives marketplace, will add one more exchange to its list for customers to access the derivatives market in China globally.
The deal is also the result of a multi-year collaboration and cooperation between the CME Group and CFFEX.
At present, CME Group has a Zacks Rank #3 (Hold).
Stocks to Consider
Better-ranked stocks in the financial sector that are worth reckoning include Markit Ltd. (MRKT), MarketAxess Holdings Inc. (MKTX) and Green Dot Corporation (GDOT). While Markit sports a Zacks Rank #1 (Strong Buy), MarketAxess and Green Dot hold a Zacks Rank #2 (Buy).
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