LME’s Asian Strategy Kicks-in With Approval of 1st Chinese Owned Ring Dealing Member
by
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.
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.
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.
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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