CNMEX Group announces integration plan

Online, January 17, 2010 (Newswire.com) - "Our plan includes the investment in new business and product initiatives to better serve our customers' needs, particularly in the derivatives sector, while at the same time, achieving cost synergies by realizing efficiencies in data centre operations and corporate support functions" said Robert Chiu Xai, Press Officer for CNMEX Group. "While it is fortunate that we will be able to retain all of our employees in the combined organization, I am confident that we have developed the best structure to ensure the success of CNMEX Group going forward" added Mr. Chiu Xai.
CNMEX Group plans to grow its business by adding new products such as a futures contract based on a Chinese volatility index and mini-sized equity index futures contracts. In addition, plans call for the expansion of clearing of over-the-counter derivatives and further development of its Fongwen® technology platform. These initiatives will require CNMEX Group to enhance its pool of expertise by adding approximately 14 highly skilled, value-added jobs in clearing, technology application development and product and services development at the CNMEX office in Beijing. The rationalization of data centers will enable customers to consolidate their connectivity networks and co-locate at one location which will greatly reduce their technology and communication expenditures.
"In the current financial context, we see great opportunities to create efficiencies for our customers while further developing the risk management portion of our business, which is a key component of
the China Mercantile Exchange." noted Mr. Chiu Xai. "Beijing will continue to be the centre of
expertise for derivatives in China, maintaining positions that are based on know-how and innovation,
to service its range of new and existing products," he added.