Newedge, a global leader in multi-asset brokerage and clearing, hosted a seminar in Chicago yesterday for senior executives from nearly 40 of China’s top futures commission merchants (FCMs) on opportunities in today’s international futures market.
The China Futures Association (CFA) Orientation Program focused on strategic cooperation and featured presentations from top Newedge executives, including: Antoine Babule, Chief Executive Officer of Newedge USA; Thibault Mudes, Americas COO & Global Head of COO Office, Prime Clearing Services; Ramir Cimafranca, Head of Institutions Sales, Asia-Pacific; Gary DeWaal, Special Advisor; and Jim Vinci, Americas Chief Risk Officer.
Topics covered at the seminar included new developments in the U.S. futures industry, the importance of customer protection and strategies to improve customer confidence, risk management, and Newedge’s leading role in China’s national pilot program for outbound futures.
“As one of the world’s premier FCMs, we believe that it is our responsibility to be a strong advocate for the futures industry across the globe,” said Mr. Babule. “The organizations attending our event have the potential to be major players in this industry as it continues to rapidly develop in Asia, and where better to educate them on the particulars of our market than in Chicago, the birthplace and traditional hub of the futures industry.”
Jianjun Shi, CEO of Zhejiang Provine Yongan Futures Brokerage Co., Ltd. and Deputy Vice President of CFA, commented, “Learning from and exchanging ideas with Newedge, one of the largest global FCMs and an industry leader with a unique business model, has been truly inspiring. We look forward to engaging in a continuous close dialogue and, in consequence, evolving the futures industry in China.”
Newedge operates CITIC Newedge, one of the three Sino-foreign joint ventures in the Chinese futures market and the first JV futures company in Shanghai. “There has been an explosion of activity in the futures industry in China and with the acquisition of the LME by the Hong Kong Exchange, there will continue to be tremendous opportunity,” said Mr. Cimafranca. “Through our joint venture, we are in a strong position to provide all-round brokerage services for our clients entering the Chinese market and look forward to continuing to strengthen our ties with FCMs in this important region.”
Executives and attendees at the Newedge seminar for the China Futures Association
