MICT - MICT inks financial services partnership for commodity trading and futures

MICT’s ([[MICT]] +0.8%) subsidiary has entered into a partnership with Shanghai Petroleum and Natural Gas Trading Center.Shanghai Petroleum and Natural Gas Trading Center, was established in 2015 by Xinhua News Agency, PetroChina, Sinopec, and CNOOC, to provide pioneering financial services in support of the platform’s corporate and government customers.Under the agreement, MICT to act as a strategic third-party partner to the Exchange’s clients to provide trade execution, margin financing and trade clearing capabilities.MICT believes the platform will be ready for launch during 2Q21 and further expects to commence revenue generation soon thereafter.

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MICT inks financial services partnership for commodity trading and futures