NYSE Euronext and the Dalian Commodity Exchange have signed a memorandum of understanding to “develop the futures and options markets in the two countries and internationally”.

The exchanges will discuss opportunities for sharing information, exchanging employees and working together on IT solutions and product design.

Garry Jones, executive director of business development and strategy at Liffe, said the deal was the first stage of Liffe’s development plan in Asia.

“Liffe is planning a major expansion in Asia this year and China is a very important part of our plans. We already have clients trading in our markets from around the Asia region and by signing our MOU with the DCE we will establish closer a relationship with the exchange,” said Jones in a statement. “We look forward to working on our new partnership and enhancing the efficiencies and activity of both markets and exploring further opportunities for cooperation.”

A spokesperson for Liffe in London said the two parties had started discussions but could not give a timetable for any potential developments as a result of these talks.

He echoed Jones’ comments that Liffe would extend its activities in Asia. He pointed to Liffe’s expansion of its Singapore office, where it appointed Stefan Ullrich as co-head in January.

Liffe’s parent, NYSE Euronext, has also reached a technology agreement with the Tokyo Stock Exchange, and holds a 5% stake in the Multi Commodity Exchange of India.