The Hong Kong Mercantile Exchange (HKMEx), China’s global marketplace, continues its expansion with the addition of Greatwall Futures Limited as its newest broking member, bringing total number of members to 32.
As an HKMEx member, Greatwall Futures will be able to access the Exchange’s state-of-the-art electronic platform for trading commodities in the Asian Pacific time zone. Greatwall’s broking membership will enable it to trade proprietarily or on behalf of clients. The Hong Kong-based brokerage provides around-the-clock trading in nearly 100 futures products in nine major global markets, including US, Europe, and Asia.
“Since HKMEx began trading last year, it has quickly established itself as a key link between China’s fast-growing commodity markets and international trading hubs, offering products tailored to the Asian needs but meeting international market conventions. This membership underlines our commitment to delivering top quality service and broad range of futures products to our customers,” said Cai Zhanlie, director of Greatwall Futures.
HKMEx Chairman Barry Cheung said, “The addition of Greatwall Futures as our latest broking member highlights the strong interest among market participants of our Exchange’s innovative product line-up, including our soon-to-be launched remninbi-denominated gold futures contract. We welcome Greatwall Futures onboard and look forward to their active participation on our platform.”
The Exchange recently surpassed 2 million contracts traded since launch, representing turnover in excess of US$100 billion. This included 1.7 million US-dollar gold futures contracts.
HKMEx 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 and copper contracts denominated in renminbi, followed by other products in precious and base metals, as well as energy, agriculture, and commodity indices.