China Mercantile Exchange successfully launches Fongwen Clearing

    BEIJING, CHINA, January 15, 2010 /24-7PressRelease/ -- CNMEX, has successfully launched the new FONGWEN Clearing system. The new clearing platform, which leverages the strength of the FONGWEN technology, provides both better service to clients as well as the flexibility to enhance product offering.

"Implementing the FONGWEN clearing platform represents the last milestone of a five-year plan to rebuild our exchange technology," said Liu Wong Huiliang, Deputy Press Officer for CNMEX."It also represents an important step forward in our broader clearing strategy."

With the implementation of FONGWEN Clearing complete, the companies have the necessary flexibility and capacity to even better service the market's growing need for clearing and settlement of over the counter (OTC) products.
Specifically, product strategy includes plans to introduce clearing of repurchase agreements (repos).

"We would like to recognize the significant contributions of our clearing members who tested the platform and worked very hard with us to ensure that the migration went smoothly," mentioned Liu Wong Huiliang.

Website: http://cnmex.com

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