FRANKFURT, April 24 (Reuters) - Deutsche Boerse and Shanghai Stock Exchange (SSE) on Thursday unveiled a partnership to license and market Deutsche Boerse market data products in mainland China.
SSE Vice President Bo Que said the deal would help drive the internationalisation of the Shanghai exchange, which will act as the domestic sales agent and technical service provider for Deutsche Boerse market data.
“Deutsche Boerse will provide corresponding services for SSE in the future,” Bo said in a statement.
Foreign financial exchange operators have had a tough time making headway in the highly regulated Chinese market so far, but Deutsche Boerse Chief Executive Reto Francioni has made China and the rest of Asia a priority for the German exchange, in the expectation those markets will open further.
Last month, Deutsche Boerse and Bank of China signed a strategic partnership making it easier for Chinese and European investors to gain access to each other’s capital markets and supporting the internationalisation of China’s currency, the renminbi. (Reporting by Andreas Kroener and Jonathan Gould; Editing by Mark Potter)