TMX Group marks occasion with a market open
ceremony in Toronto
TORONTO, March 25, 2015 /PRNewswire/ - Industrial and
Commercial Bank of China (Canada)
(ICBK), a Canadian Subsidiary of Industrial and Commercial Bank of
China Limited (ICBC) and TMX Group today announced the signing of a
Memorandum of Understanding (MoU) to enhance their understanding of
each other's businesses and explore the possibilities of
cooperation. Mingxuan Zhu, President and Chief Executive Officer of
ICBK and Brenda Hoffman, Chief
Information Officer, Group Head of Technology, TMX Group
participated in the signing ceremony.
Under the MoU, TMX Group and ICBK will endeavour to set a
framework for communicating on a regular basis to evaluate business
opportunities, including joint product development in multiple
asset classes, establishing clearing, settlement and risk
management mechanisms.
Mr. Shu Gu, Senior Executive Vice
President of ICBC, expressed his support in the following
statement: "We are very encouraged with the recent progress in
trade relations between China and Canada, highlighted by the
official launch of RMB clearing in Canada. We believe this progress will also
enhance the pleasant business relationship with TMX Group."
"This MoU with ICBK represents an important new relationship for
TMX Group," said Lou Eccleston, CEO,
TMX Group. "We are pleased to begin work with ICBK to explore ways
in which we can collaborate to strengthen our respective
organizations and increase our presence in a key global
marketplace."
"We are very delighted to formalize our relationship with TMX
Group" said Mingxuan Zhu, President and CEO of ICBK, "We are
hopeful that the resulting collaboration will provide multiple
benefits for Chinese and Canadian markets now and into the
future."
"We look forward to working with ICBK to explore business
opportunities across our two organizations both in Canada and China," said Brenda Hoffman. "Our technology solutions team
is focused on seeking out new markets to leverage our assets and
capabilities."
For Market Openings: Media may pick up a feed
from the TOC (television operations centre) for all market open
ceremonies. The feed is named TSX Transmit 1 (SD-SDI) and is
produced at TMX and sent live to the Toronto TOC. The client moves
into position for the market open ceremony at approximately
9:27 a.m. and the markets will open
with the sound of a SIREN (the traditional market open on Toronto
Stock Exchange).
About TMX Group (TSX:X)
TMX Group's key subsidiaries operate cash and derivative markets
and clearinghouses for multiple asset classes including equities,
fixed income and energy. Toronto Stock Exchange, TSX Venture
Exchange, TMX Select, Alpha Group, The Canadian Depository for
Securities, Montréal Exchange, Canadian Derivatives Clearing
Corporation, NGX, BOX Options Exchange, Shorcan, Shorcan Energy
Brokers, Equicom and other TMX Group companies provide listing
markets, trading markets, clearing facilities, depository services,
data products and other services to the global financial community.
TMX Group is headquartered in Toronto and operates offices across Canada
(Montréal, Calgary and
Vancouver), in key U.S. markets
(New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group,
visit our website at www.tmx.com. Follow TMX Group on Twitter
at http://twitter.com/tmxgroup.
About Industrial and Commercial Bank of China (Canada) (ICBK)
Industrial and Commercial Bank of China
(Canada), a Canadian Subsidiary of Industrial and Commercial
Bank of China Limited (ICBC), headquartered in the financial
district of Downtown Toronto. ICBK
is dedicated to providing one-stop shop of multinational financial
services. The bank also earns great reputation through providing
excellent, comprehensive, and efficient financial services to
private, corporate and institutional clients. As a pioneer in
building a sound and solid bridge for further economic and trade
co-operation between China and Canada, ICBK will continue to
support the business development of Chinese and Canadian
enterprises.
On November 9, 2014, People's Bank
of China (PBOC) has decided to authorize the Industrial and
Commercial Bank of China (Canada) to
serve as the RMB clearing bank in Toronto.
SOURCE TMX Group Inc.
