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CME, Japanese Exchange Sign Cooperative Venture

CME Group, the world's largest and most diverse derivatives exchange, and Osaka Securities Exchange Co. Ltd. (OSE), Japan's largest derivatives and securities exchange, announced Wednesday a memorandum of understanding in which CME and OSE will consider opportunities to jointly develop products and services that will benefit their customers.

CME chair Terry Duffy said the goal is to create "additional trading opportunities and increase access to more markets for the customers of both organizations." CME chief executive officer Craig Donohue said CME hopes to especially extend its reach into the Asian marketplace. OSE CEO and president Michio Yoneda issued a similar statement, saying his hope is that the CME-OSE partnership "will advance the presence of OSE throughout the world."

Source: Feedstuffs