By Madeleine Nissen
FRANKFURT--German exchange operator Deutsche Boerse AG (DB1.XE),
the Shanghai Stock Exchange and the China Financial Futures
Exchange are close to announcing a joint venture, a person close to
the matter said Tuesday.
The joint venture, in which Shanghai Stock Exchange and China
Financial Futures Exchange will hold the majority, will involve
yuan-denominated trading of fewer than 10 benchmark products on
Deutsche Boerse trading platforms, said the person. The joint
venture will be based in Frankfurt. The official announcement could
come as early as Wednesday.
It wasn't immediately clear how much each company will invest in
the joint venture and how many additional revenues is expected by
the joint venture partners.
In February, Deutsche Boerse Chief Financial Officer Gregor
Pottmeyer had already announced a closer cooperation with the
Shanghai Stock Exchange. The SSE became official distributor and
licensor of Deutsche Boerse market data in mainland China in April
2014.
Cooperations and partnerships in China are important steps in
Deutsche Boerse's expansion in Asia, which will help the German
exchange achieve its target of annual revenue growth of 5% to 10%
by 2017.
--Ulrike Dauer contributed to this story
Write to Madeleine Nissen at madeleine.nissen@wsj.com
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