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The Hong Kong Mercantile Exchange (HKMEx), China’s global marketplace, announces today the addition of Glory Sky Global Markets Limited, China Maike Futures International Limited, and Holly Su Futures (Hong Kong) Co. Ltd. as broking members, bringing the total Exchange membership to 43 firms.
“We are delighted by the enthusiasm with which futures brokerages in Greater China have been signing up to trade with us, making HKMEx a leading international exchange in the Chinese commodity market,” said Jane Wang, HKMEx Co-President. “It further adds to our growing regional and international membership, which expanded by 20% in the first quarter of 2013 alone, validating our position as China’s global marketplace. We look forward to working with our latest members to provide them and their customers with products and services expected of a world-class exchange.”
Alfred Yeung, Chairman of Glory Sky Group, said, “Glory Sky is dedicated to providing best possible trading opportunities and a comprehensive range of products. We are excited to offer our customers trading in HKMEx’s distinctive contracts, including soon-to-be-launched renminbi-denominated precious metals futures, and look forward to working with the Exchange in further developing Hong Kong’s role as a hub for trading in gold and other futures products.”
Ming Xiaochong, General Manager for China Maike Futures International, said, “We are pleased to join our group’s flagship and HKMEx Industry Associate Maike Metals International in working with the Exchange to promote futures trading in base metals on an international level. This new stage in our relationship will allow us to fulfil our group’s obligations as an Industry Associate, while utilising the Exchange’s products to help our internal and external customers to better hedge or take advantage of commodity price movements.”
Zhou Yong, Executive Vice President of Jiangsu SOHO Holding Group Co., Ltd., said, “In joining HKMEx, our wholly-owned subsidiary Holly Su Futures Hong Kong demonstrates its eagerness to deepen its participation in global markets. Holly Su Futures takes a big step forward today, and stands ready to add value to both our clients and to HKMEx’s commodity trading marketplace.”
As broking members, all three firms will have access to HKMEx’s electronic platform for commodities trading in the Asia Pacific time zone, both proprietarily and on behalf of clients.
Glory Sky Global Markets is a member of the Glory Sky Group, a leading brokerage house in Hong Kong, providing trading in multiple asset classes and investment services to clients from financial institutions and funds, to corporate and individual investors.
China Maike Futures International provides global futures trading services. It is a member of the group of companies which includes Maike Metals International Limited – one of the largest non-ferrous metals traders in China with annual volume reaching two million tons.
Holly Su Futures, a joint venture between the state-owned Jiangsu SOHO Holding Group Co. Ltd. and Holly International Group (Hong Kong) Ltd., provides trading of futures and options products listed on major international exchanges.
HKMEx currently offers 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 physical delivery in Hong Kong. Going forward, the Exchange plans to launch gold, silver and copper contracts denominated in renminbi, followed by other products in precious and base metals, as well as energy, agriculture, and commodity indices. HKMEx has six clearing members and 37 broking members.
