Release: 5453 -08
For Release: February 12, 2008
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) and the China Securities Regulatory Commission (CSRC) today announced that the agencies have agreed to hold regular meetings to promote enhanced cooperation and collaboration. These meetings will be designed to promote investor protection, market integrity, and the supervision of derivatives trading occurring on a cross-border basis between China and the U.S.
“China plays an increasingly important role in trading on the world’s futures markets, and it is critical that the CFTC and the CSRC work together on issues of mutual concern,” said CFTC Acting Chairman Walt Lukken. “Today’s agreement strengthens the ongoing collaborative efforts between our respective countries, including the CFTC’s training programs in the areas of intermediary oversight, surveillance, and clearing. During the past few years, the CFTC has had a number of productive meetings with Chairman Shang and his colleagues, and I look forward to forging an even stronger cooperative relationship as we move ahead.”
“The U.S. is the world’s largest and one of the most important mature markets, while China is a fast growing emerging market,” said Chairman Shang of the CSRC. “China is also gradually opening up its futures market for foreign participation. The signing of this CSRC-CFTC agreement will further enhance the cooperation between the two regulators and the two markets.” Chairman Shang also welcomes the CFTC’s continuing efforts in providing training and technical assistance to the CSRC.
Today’s arrangement has several objectives:
R. David Gary
Last Updated: February 12, 2008