A strategic cooperation agreement was signed by the Industrial Bank and Shanghai Futures Exchange (SHFE) on June 25, 2014.

Based on the concept of “innovation and transformation”, the two bodies will build comprehensive partnerships in various aspects.

A wide spectrum of reform will be presented in upgrading professional cooperation and services. The Industrial Bank is expecting to take part in securities deals and risk control research. Futures asset management service is a key part of the cooperation, including product development and financial support.

In addition, the two parties are exploring new ways of futures delivery cooperation as well. According to the new agreement, services such as futures exchange and delivery warehouse management, standard warehouse receipt financing, multi currency settlement, cross-border settlement and offshore business services will be provided in the near future.

The Industrial Bank, based on Fuzhou, Fujian province, is among the first share-holding business banks approved by the State Council. In the hope of participating in stock and futures trading and understanding market demands, the bank set a special futures servicing group in 2006 and became a member of SHFE on 2009.

SHEF is one of the top exchanges for futures, options and derivatives in the Asian-Pacific region. In 2013, the turnover of global product futures and options occupied 15.87 percent of the total, and was the fourth largest.

Following this win-win strategy, the cooperation is helping both parties optimize allocations and create more value in the global futures market.