HKMEx Adds CIFCO as Broking Member
The Hong Kong Mercantile Exchange (HKMEx), China’s global marketplace, announced July 11 the addition of China International Futures (Hong Kong) Co., Ltd (CIFCO HK) as a broking member, making it the first international exchange to have signed up all six mainland Chinese futures firms which are authorised to conduct business in Hong Kong.
CIFCO HK’s addition significantly enhances HKMEx’s goal of providing global market participants with transparent price discovery and benchmark pricing for China-bound commodities. As such, HKMEx’s membership base is unmatched by any other international exchange and provides a unique platform for international and mainland users to trade commodities.
As a broking member, CIFCO HK will be able to trade for proprietary and client accounts on HKMEx’s state-of-the-art electronic platform in the Asian Pacific time zone. CIFCO HK is the Hong Kong branch of China International Futures Co. Ltd (CIFCO), one of the largest futures brokerages in China by trading volume and turnover.
“Our membership on HKMEx represents the continuation of our strategy to leverage on our well-established brand and extensive industry experience in mainland China to expand aboard, and to offer the most comprehensive range of both internationally and domestically traded investment products to our customers. We look forward to participating on HKMEx’s transparent and liquid market environment and trading its innovative contracts,” said Michael Zhang, Chairman of CIFCO HK.
HKMEx Chairman Barry Cheung said, “We are excited to welcome CIFCO HK as our latest broking member. Having all six mainland Chinese futures companies on board will significantly boost our Exchange’s market leadership as the bridge between China’s fast-growing commodity markets with other international trading hubs. It will also no doubt contribute to the success of our upcoming renminbi-denominated copper and gold futures products.”
The other mainland futures brokerages on the Exchange are China Xin Yongan Futures Company Limited, GF Futures (Hong Kong) Limited, Green Futures (Hong Kong) Limited, Jinrui Futures (Hong Kong) Limited, and Nanhua Futures (Hong Kong) Co., Limited. This latest addition of CIFCO HK brings HKMEx’s total membership to 31 firms.