LME’s Asian Strategy Kicks-in With Approval of 1st Chinese Owned Ring Dealing Member
Wednesday,08/01/2014|20:40GMTby
Adil Siddiqui
The London Metal Exchange has announced the approval of GF Financial Markets, the first Chinese owned ring dealing member Company. The moves come on the back of HKEx’s investment in the exchange as part of its global expansion strategy.
China’s influence continues to grow in Europe as the London Metal Exchange (LME) bags its first Chinese owned brokerage. GF Financial Markets (UK), an FCA regulated broker that is part of an international Chinese owned firm has joined the historic metals trading venue.
The Hong Kong Exchange’s acquisition of the LME in 2012 came with much scrutiny as participants were cautions that the deal would not blossom, however the latest approval of GF Financial Markets as ring dealing member highlights the long-term scope of the deal that was valued over £1.4 billion. The acquisition was expected to boost commodities trading on the London bourse from China.
GF Financial Markets is a subsidiary of GF Group, a Chinese owned firm with a range of financial services firms based in the Hong Kong offering; equities and commodities brokerage and asset management.
Garry Jones, chief executive of the LME commented about the new member in a statement to the media: “We welcome GF Financial Markets to the Ring and look forward to expanding our client base further, particularly in the Asia region.
Our growing membership shows confidence in our markets and a growing interest in Risk Management from the global metals industry.”
GF Financial Markets will be approved as a ring dealing member, under their permission, the firm will be able to trade in LME Select and the telephone market, in addition the firm will be able to buy and sell material for their clients.
GF Securities, the equities broking unit of GF Group had acquired Natixis, a French bank, commodity division during the summer of 2013, Natixis withdrew its LME membership in 2012.
Garry Jones
The latest move highlights the changing landscape in global commodity trading, Asia firms, who are strong producers and consumers of commodities such as precious and industrial metals are shifting the balance and overtaking Europe’s position in the sector.
GF Securities is one of the largest brokerage firms in China. Till date, a range of international firms from Indonesia, India and Japan have been migrating their business under the FCA. According to GF Financial Markets permission on the FCA register, they are able to offer CFDs and financial spread betting, in addition to futures and options traded on the LME.
China’s influence continues to grow in Europe as the London Metal Exchange (LME) bags its first Chinese owned brokerage. GF Financial Markets (UK), an FCA regulated broker that is part of an international Chinese owned firm has joined the historic metals trading venue.
The Hong Kong Exchange’s acquisition of the LME in 2012 came with much scrutiny as participants were cautions that the deal would not blossom, however the latest approval of GF Financial Markets as ring dealing member highlights the long-term scope of the deal that was valued over £1.4 billion. The acquisition was expected to boost commodities trading on the London bourse from China.
GF Financial Markets is a subsidiary of GF Group, a Chinese owned firm with a range of financial services firms based in the Hong Kong offering; equities and commodities brokerage and asset management.
Garry Jones, chief executive of the LME commented about the new member in a statement to the media: “We welcome GF Financial Markets to the Ring and look forward to expanding our client base further, particularly in the Asia region.
Our growing membership shows confidence in our markets and a growing interest in Risk Management from the global metals industry.”
GF Financial Markets will be approved as a ring dealing member, under their permission, the firm will be able to trade in LME Select and the telephone market, in addition the firm will be able to buy and sell material for their clients.
GF Securities, the equities broking unit of GF Group had acquired Natixis, a French bank, commodity division during the summer of 2013, Natixis withdrew its LME membership in 2012.
Garry Jones
The latest move highlights the changing landscape in global commodity trading, Asia firms, who are strong producers and consumers of commodities such as precious and industrial metals are shifting the balance and overtaking Europe’s position in the sector.
GF Securities is one of the largest brokerage firms in China. Till date, a range of international firms from Indonesia, India and Japan have been migrating their business under the FCA. According to GF Financial Markets permission on the FCA register, they are able to offer CFDs and financial spread betting, in addition to futures and options traded on the LME.
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Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
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We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
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#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
