On September 9, 2021, the China Futures Association（CFA）and the St. Petersburg International Mercantile Exchange (SPIMEX) held an online Memorandum of Understanding signing ceremony. Mr. Hong Lei, Chairman of the Association and Mr. Aleksei Rybnikov, CEO of SPIMEX represented each organization signed the MoU.

As a self-regulatory organization for the China futures industry, CFA has been committed to promoting international cooperation between China futures industry and overseas institutions for many years. It has signed MoUs with more than ten international institutions from the United States, Germany, Switzerland, Singapore and Hong Kong,etc and carried out a series of fruitful cooperation.

SPIMEX is the largest Russian commodity exchange which organizes trades on the spot market and derivatives market. It’s mission is to build a formal commodity market and form a clear, transparent and fair price mechanism for the main raw materials manufactured in the Russian Federation and CIS countries. The business scope of SPIMEX includes petroleum products, crude oil, futures, natural gas, timber and other commodities such as coal and grains.

With the signing of the memorandum of cooperation, CFA and SIMPEX will cooperate in high-level visits, education and training, personnel training and exchanges. Both parties attach great importance to this cooperation and stated that they will take this signing as the first step to jointly promote the development of the commodity and derivatives markets in the two countries.