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Singapore Exchange (SGX) today welcomed China International Capital Corporation Hong Kong Futures Limited (CICC HKF) as a Trading Member of its derivatives market.
CICC HKF is a wholly owned group member of China International Capital Corporation Limited (CICC) which provides investment banking, equities, fixed income, commodities and currencies, asset and wealth management, research, and private equity services to clients worldwide.
CICC Commodity Trading Limited (CICC CT), another wholly owned group member of CICC, is a key participant in SGX's iron ore futures market.
Pol de Win, Senior Managing Director, Head of Global Sales and Origination at SGX, said, “We are delighted to welcome CICC HKF as a new member of our derivatives marketplace. CICC plays a critical role in connecting China with financial centres globally and this marks another milestone in our collaboration with the group. With both derivatives and securities trading memberships, CICC will be able to offer a full range of investment and risk-management tools for its clients, and we look forward to deepening our partnership.”
Zhou Xuetao, Managing Director, Global Head of Commodities at CICC, said, “The membership marks a milestone in the strategic cooperation between CICC and SGX, and another breakthrough in globalisation efforts of our commodity business. Since SGX is one of the most robust venues of commodity derivatives, this membership, together with CICC CT’s market making role, will further strengthen our capacity and capability in commodity derivatives trading. We look forward to exploring more business opportunities in Singapore to extend our local reach, as well as to deepen our collaboration with SGX.”
With the admission of CICC HKF, SGX’s derivatives market now has 66 Trading Members and 26 Clearing Members.
