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The Hong Kong Mercantile Exchange (“HKMEx”), China’s international commodity marketplace, announces today the addition of Green Futures (Hong Kong) Limited as the Exchange’s newest broking member.
The addition of Green Futures (Hong Kong) to HKMEx’s growing membership will enable it to access a state-of-the-art electronic platform for trading commodities in the Asia-Pacific time zone in a transparent and liquid environment. Green Futures (Hong Kong) is the subsidiary of Green Futures Co. Ltd, founded in 1993 and one of China’s earliest futures brokerages. It has clearing memberships on all four Chinese futures exchanges and operations in 13 provinces, covering a range of products in financial indices, metals, energy and chemicals, and agriculture. The brokerage is one of only six firms approved by China Securities Regulatory Commission to set up business in Hong Kong.
“As a pioneering mainland futures firm, Green Futures is committed to continued expansion into global financial markets through Hong Kong. We make a big step toward this goal today by joining HKMEx. We believe that the Exchange’s world-class and innovative products will help our clients to better manage their risk in the global investment environment, and help us maintain our edge in China’s fiercely competitive futures brokerage sector,” said Zhao Guangyu, Chairman of Green Futures.
Barry Cheung, Chairman of HKMEx, said, “Green Futures is a fast-growing futures firm with extensive network and customer base in China. We would like to welcome them on board as we continue to forge ahead to build a global marketplace in an increasingly China-centric commodities trading landscape.”
HKMEx’s current list of broking members also includes BOCI Securities Ltd, Bright Smart Futures and Commodities Co. Ltd, Celestial Commodities Ltd, CES Capital International Co. Ltd, Chief Commodities Ltd, GF Futures (Hong Kong) Co., Limited, Guotai Junan Futures (Hong Kong) Ltd, Haitong International Futures Limited, ICBC International Futures Ltd, Interactive Brokers LLC, Jinrui Futures (Hong Kong) Limited, KGI Futures (Hong Kong) Ltd, Morgan Stanley Hong Kong Securities Ltd, Nanhua Futures (Hong Kong) Co., Limited, OSK Futures Hong Kong Ltd, Phillip Commodities (HK) Ltd, Tanrich Futures Ltd, TG Securities Ltd, and Wing Fung Futures Limited. Its clearing members are G. H. Financials Limited, Interactive Brokers (UK) Ltd, and Morgan Stanley & Co International Plc.
HKMEx trades two contracts. They are a 32 troy ounces (1 kilo) gold futures contract, and a 1,000 troy ounces silver futures contract. Both are denominated in US dollars, with option for physical delivery in Hong Kong. The Exchange will also launch a renminbi-denominated gold futures contract later this year. Other products to follow include contracts in other precious metals such as platinum and palladium, base metals such as copper, agriculture, energy, and commodity indices.
