Shanghai Futures Exchange and The Chicago Board Options Exchange announced today that they signed a Memorandum of Understanding (“MOU”) which lays the foundation for the sharing of information for the potential development of options and other derivatives products. The MOU also provides the opportunity for ongoing educational initiatives designed to enhance the understanding of one another’s products, markets, technologies and regulation. Such collaborative efforts between CBOE and SHFE can lay the groundwork for future business relationships, including joint marketing efforts and potential product offerings.

“CBOE is the world’s leading derivatives exchange of option products. Shanghai Futures Exchange has made great efforts in developing itself into a product-inclusive futures exchange, which mainly trades financial futures and options.” said Dr. Peng Junheng, Shanghai Futures Exchange deputy CEO. “We hope the partnership between SHFE and CBOE will give both sides a wider edge in their development.”

“We are extremely pleased to start on a path of communication and cooperation with Shanghai Futures Exchange that will lead to future business relationships,” said CBOE Chairman and CEO William J. Brodsky. “ CBOE created the stock options marketplace in the United States, and we look forward to the opportunity to share our expertise on this valuable risk management tool and collaborating with SHFE on educational efforts and the development of products.”

The MOU lays the foundation for the exchange of educational resources and information with respect to pursuing cooperation and potential joint business initiatives between the two exchanges with regards to options and other derivatives products. CBOE Chairman and CEO William Brodsky, SHFE deputy CEO Peng Junheng and other Exchange officials finalized the MOU in a signing ceremony held today.