HKMEx To Begin Trading Silver TomorrowAlso approves Haitong International Futures and Bright Smart Futures & Commodities as new members
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HKMEx To Begin Trading Silver Tomorrow

Also approves Haitong International Futures and Bright Smart Futures & Commodities as new members


HONG KONG, 21 July, 2011– The Hong Kong Mercantile Exchange (“HKMEx”), China’s international commodity marketplace, announces today the addition of Haitong International Futures Limited and Bright Smart Futures & Commodities Co. Ltd. as new broking members. This comes as the Exchange is set to begin trading in a new US dollar silver futures contract tomorrow.

By joining the Exchange’s growing mainland and international membership roster, the two firms will be able to trade commodity futures contracts on HKMEx’s state of the art electronic platform.

Lin Yong, Deputy Chairman and Chief Executive of Haitong International Securities, said: “As one of the biggest Chinese brokerages to set up business in Hong Kong, our HKMEx membership makes great sense as it allows us to facilitate commodities transactions for our global and local clients with the rest of the world, enabling them to make better investment decisions in the ever-changing, dynamic markets.”

“We were very impressed with HKMEx’s commitment to providing commodities contracts that will enable market participants to hedge commodity price risks in a fair and transparent manner. It also brings investors another opportunity to broaden their investment portfolio,” said Chan Kai Fung, Chief Executive Officer and Executive Director of Bright Smart Group.

Haitong International Futures Limited is a wholly-owned subsidiary of Haitong International Securities Group Limited, and is dedicated to providing customers with one-stop global futures and options investment services. Meanwhile, Bright Smart Futures & Commodities is a wholly-owned subsidiary of Bright Smart Securities & Commodities Group Limited, a locally-listed comprehensive financial services provider.

HKMEx will offer its new silver futures product in units of 1,000 troy ounces, with physical delivery in Hong Kong. This is in addition to its US dollar 32 troy ounces gold futures contract currently being traded on the Exchange. HKMEx also plans to launch gold and silver futures contracts denominated in renminbi later this year.

Barry Cheung, Chairman of HKMEx, said: “Since we began trading in mid-May, some US$3 billion in gold futures have changed hands through our Exchange. Today’s addition of two new members signals continued support towards our nascent Exchange from the market, and together with the launch of our new silver contract, we are well on our way to providing the liquidity and price-setting power that regional and Chinese market participants are looking for today.”

The addition of Haitong and Bright Smart brings HKMEx’s membership roster to 22. They join 17 broking members including 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, Jinrui Futures (Hong Kong) Limited, 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, TG Securities Ltd, and Wing Fung Futures Limited. The three clearing members are Interactive Brokers (UK) Ltd, MF Global UK Ltd, and Morgan Stanley & Co International Plc.



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Last update: 01 Feb 2012 12:59

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