CHICAGO, May 17, 2015 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, and Korea Financial Investment Association (KOFIA), announced today they have signed a Letter of Intent (LOI) to explore mutual collaboration in the areas of market education and training.
"With recent CME Group volume in Asia growing 22 percent year over year, we continue to focus on how we can meet the needs of our customers in the Asia Pacific region," said Terry Duffy, CME Group Executive Chairman and President. "This Letter of Intent we have signed puts us in a strong position to extend our investor education efforts in Korea, with the support of our local partner KOFIA."
"We are pleased to sign this Letter of Intent with KOFIA, and we believe this will provide a framework for enhanced cooperation between the two organizations," said William Knottenbelt, Senior Managing Director, International, CME Group. "Through this Letter of Intent, we hope to continue to deepen our understanding of Korean financial markets, and further extend CME Group's reach into the Korean marketplace, through working hand in hand with KOFIA in the areas of investor education and training."
"We are privileged to sign this Letter of Intent, and enhance our cooperative relationship with CME Group," said Young-Key Hwang, Chairman of KOFIA. "KOFIA is committed in its efforts to build trust and promote better communication within the Korean capital markets, and we are confident of achieving these goals through investor education and training, in collaboration with CME Group."
The LOI signing ceremony was held in Seoul, and Christopher Mead, Managing Director, Marketing, CME Group, and Sang-Hun Chun, Managing Director of KOFIA, were the signatories.
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform, its trading facilities in New York and Chicago, and through its London-based CME Europe derivatives exchange. CME Group also operates one of the world's leading central counterparty clearing providers through CME Clearing and CME Clearing Europe, which offer clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.
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SOURCE CME Group