The Chicago Board Options Exchange (CBOE) and the Korea Exchange (KRX) have signed a memorandum of understanding to establish a collaborative business relationship.
The exchanges expressed the intention that future cooperation between the two would enhance the liquidity, efficiency and integrity of their respective markets.
According to a statement, CBOE and KRX will work to establish procedures for the communication and sharing of information, and will also collaborate to secure approvals, authorisations, and agreements from regulatory authorities and relevant organizations of each party as necessary.
“The financial marketplace is increasingly becoming more global, and opportunities such as this to create cross-continent relationships are essential to growing our business,” said CBOE chairman and CEO William J. Brodsky. “The communication and cooperation created through this agreement will not only benefit both of our institutions, but both of our country’s financial markets.”
“KRX realises the importance of globalisation, and is eager to work with the CBOE, which has considerable expertise and experiences in operating the derivatives markets,” added KRX chairman and CEO Jung-hwan Lee.