Derivatives

SGX signs first Chinese derivatives trading member

Derivatives trading company GF Futures (Hong Kong) has become the first Chinese trading member of the Singapore Exchange (SGX).

The addition of GF Futures brings the total number of trading members in the SGX derivatives market to 36. The derivatives market also has 37 clearing members. In addition, the securities market has 30 trading members and 29 clearing members.

“GF Futures' admission to our derivatives market shows that Asian customers are increasingly keen to have direct access to SGX's internationalised suite of products,” said Chew Sutat, head of sales and clients at SGX. “With its extensive network and customer base across China, including Hong Kong, GF Futures' entry will enrich participation in our market.”

Cheng Xiao, general manager of GF Futures, added that joining SGX was an important step for the group, enabling it to enhance its understanding of Singapore and Asian markets and provide its customers easier access to SGX's derivative products.

GF Futures (Hong Kong) is a subsidiary company fully owned by GF Futures. It is one of six futures commission merchants approved by the China Securities Regulatory Commission to launch business in the Hong Kong market.

GF Futures was also the first Chinese broker to sign up as a trading member on NYSE Liffe, the European derivatives business of exchange group NYSE Euronext, in July 2011.