Eurex has admitted GF Futures (Hong Kong) as a trading member, the first broker headquartered in the People’s Republic of China, through its Hong Kong subsidiary.
GF Futures (Hong Kong) is a subsidiary company fully owned by GF Futures. Its establishment was approved by China Securities Regulatory Commission as one of the first three futures commission merchants (FCMS) to launch business in the Hong Kong market.
Cheng Xiao, GM of GF Futures, said: “We are honored to be the first Chinese broker as a member of Eurex. We will have a better understanding of the European market together with our customers. Being a member of Eurex represents another major step to offer access to international business opportunities to our customers as well as a further commitment to the internationalization of GF Group.”
Michael Peters, member of the Eurex executive board, said: “We are very pleased to welcome the first Chinese broker as a member of Eurex. Through their connection to Eurex, GF Futures (Hong Kong) is the first Chinese broker to give its customer base direct and reliable access to our international trading network out of Hong Kong. Over the last two years we have seen a fast growing interest from Asian clients demanding direct access to our products.”
Reportedly, the volume generated by the Asian members has tripled in 2009 compared with 2008. Against this backdrop, Eurex intends to further expand its business in the Asia-Pacific region. It has opened representative offices in Hong Kong, Singapore and Tokyo last year. Eurex said that currently there are 10 members admitted out of Asia-Pacific, and several firms are in the admission process.