The international derivatives exchange Eurex announced today that it admitted the first broker headquartered in the People's Republic of China through its Hong Kong subsidiary. GF Futures (Hong Kong) Co. Ltd. became a trading member of Eurex effective on 3 March 2010.
Dr. Cheng Xiao, the General Manager 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."
"We are very pleased to welcome the first Chinese broker as a member of Eurex", said Michael Peters, member of the Eurex Executive Board. "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."
Eurex is strongly committed to further expanding its business in the Asia-Pacific region. Representative offices in Hong Kong, Singapore and Tokyo were opened last year. Currently there are 10 members admitted out of Asia-Pacific, and several firms are in the admission process. The volume generated by the Asian members has tripled in 2009 compared with 2008.
GF Futures (Hong Kong) Co. Ltd is a subsidiary company fully owned by GF Futures Co. Ltd. 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.