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HONG KONG, 28 June, 2011 – The Hong Kong Mercantile Exchange (“HKMEx”) announces today the addition of Jinrui Futures (Hong Kong) Limited and Wing Fung Futures Limited as new broking members, taking the total number of HKMEx members to 20.
The memberships allow the two firms access to HKMEx’s state-of the-art electronic trading platform to conduct commodity trades in a transparent, liquid and cleared environment. Jinrui Futures (Hong Kong) is the local subsidiary of Jinrui Futures Co. Limited, one of the first futures companies based in China to be authorized by Mainland financial regulators to set up business in Hong Kong. Wing Fung Futures is part of the Wing Fung Financial Group, a financial services firm offering precious metal margin trading, as well as trading in a variety of overseas stocks and commodities.
“Without a doubt, China has become a major player in global commodity markets. With its strategic location, HKMEx is uniquely positioned to help us take advantage of China’s insatiable demand for commodities. Our exchange membership will allow us to offer clients the opportunity to participate in this exciting market. We fully support HKMEx in their goal of becoming China’s global marketplace,” said Lu Ganping, Chairman of Jinrui Futures.
Wing Fung Futures Limited Chief Operating Officer Jimmy Fong said: “By joining the exchange, we will gain access to HKMEx’s current and upcoming physically-delivered commodity futures products that are new to the Hong Kong market, allowing us to provide a wider variety of investment options for our customers. We look forward to a fruitful and productive relationship with HKMEx in the months and years ahead.”
Barry Cheung, Chairman of HKMEx, said: “We are very pleased to have our new members on board. They represent some of the most recognisable names in the industry both in Hong Kong and in China. Their addition will help us boost liquidity, and make our exchange an even more attractive venue for market participants to trade commodity futures contracts in the Asia Pacific time zone. We look forward to working with them as valuable and active members of HKMEx.”
Jinrui Futures and Wing Fung Futures join 18 previously-announced members, including 15 broking members. The broking members are: BOCI Securities Ltd, Celestial Commodities Ltd, CES Capital International Co. Ltd, Chief Commodities Ltd, GF Futures (Hong Kong) Co., Limited, ICBC International Futures Ltd, Interactive Brokers LLC, KGI Futures (Hong Kong) Ltd, MF Global 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 and TG Securities Ltd. The three clearing members are: Interactive Brokers (UK) Ltd, MF Global UK Ltd, and Morgan Stanley & Co International Plc.
HKMEx currently offers a US dollar-denominated 32 troy ounces gold futures contract with physical delivery in Hong Kong. The exchange is also set to launch a US dollar denominated silver futures contract, as well as gold and silver futures contracts denominated in Renminbi.
