Yesterdays HKMEX announcement about trading, starting...

Yesterdays HKMEX announcement about trading, starting today.

http://www.hkmerc.com/documents/Press_Release/haitong_brightsmart_EN_FINAL.pdf

PRESS RELEASE
HKMEx To Begin Trading Silver Tomorrow With Two New Members
Haitong International Futures and Bright Smart Futures & Commodities
join growing Exchange membership
HONG KONG, 21 July, 2011 ? The Hong Kong Mercantile Exchange (?HKMEx?), China?s international commodity marketplace, announces today the addition of Haitong International Futures Limited and Bright Smart Futures & Commodities Co. Ltd. as new broking members. This comes as the Exchange is set to begin trading in a new US-dollar silver futures contract tomorrow.
By joining the Exchange?s growing mainland and international membership roster, the two firms will be able to trade commodity futures contracts on HKMEx?s state of the art electronic platform.
Lin Yong, Deputy Chairman and Chief Executive of Haitong International Securities, said: ?As one of the biggest Chinese brokerages to set up business in Hong Kong, our HKMEx membership makes great sense as it allows us to facilitate commodities transactions for our global and local clients with the rest of the world, enabling them to make better investment decisions in the ever-changing, dynamic markets.?
?We were very impressed with HKMEx?s commitment to providing commodities contracts that will enable market participants to hedge commodity price risks in a fair and transparent manner. It also brings investors another opportunity to broaden their investment portfolio,? said Chan Kai Fung, Chief Executive Officer and Executive Director of Bright Smart Group.
Haitong International Futures Limited is a wholly-owned subsidiary of Haitong International Securities Group Limited, and is dedicated to providing customers with one-stop global futures and options investment services. Meanwhile, Bright Smart Futures & Commodities is a wholly-owned subsidiary of Bright Smart Securities & Commodities Group Limited, a locally-listed comprehensive financial services provider.
HKMEx To Begin Trading In Silver Tomorrow With Two New Members/Page 2
HKMEx will offer its new silver futures product in units of 1,000 troy ounces, with physical delivery in Hong Kong. This is in addition to its US-dollar, 32 troy ounces gold futures contract currently being traded on the Exchange. HKMEx also plans to launch gold and silver futures contracts denominated in Renminbi later this year.
Barry Cheung, Chairman of HKMEx, said: ?Since we began trading in mid-May, some US$3 billion in gold futures have changed hands through our Exchange. Today?s addition of two new members signals continued support towards our nascent Exchange from the market, and together with the launch of our new silver contract, we are well on our way to providing the liquidity and price-setting power that regional and Chinese market participants are looking for today.?
The addition of Haitong and Bright Smart brings HKMEx?s membership roster to 22. They join 17 broking members including BOCI Securities Ltd, Celestial Commodities Ltd, CES Capital International Co. Ltd, Chief Commodities Ltd, GF Futures (Hong Kong) Co., Limited, ICBC International Futures Ltd, Interactive Brokers LLC, Jinrui Futures (Hong Kong) Limited, KGI Futures (Hong Kong) Ltd, MF Global Hong Kong Ltd, Morgan Stanley Hong Kong Securities Ltd, Nanhua Futures (Hong Kong) Co., Limited, OSK Futures Hong Kong Ltd, Phillip Commodities (HK) Ltd, Tanrich Futures Ltd, TG Securities Ltd, and Wing Fung Futures Limited. The three clearing members are Interactive Brokers (UK) Ltd, MF Global UK Ltd, and Morgan Stanley & Co International Plc.
-Ends-
For further information please contact:
Aubrey Ho Raymond Ma
Director of Corporate Communications Corporate Communications Manager
Tel +852 3420 9060 or Tel: +852 3420 9022 or
[email protected] [email protected]
About Hong Kong Mercantile Exchange (HKMEx)
The Hong Kong Mercantile Exchange provides a seamless, state-of-the-art electronic platform for commodities trading in the Asia-Pacific time zone, riding on Hong Kong?s world-class financial infrastructure, proximity to mainland China, and unique role as China?s offshore renminbi centre.
The Exchange, whose shareholders include ICBC, COSCO and En+ Group among others, aims to offer a diverse range of commodity futures on precious and base metals, agricultural products and financial derivatives.
HKMEx is authorised by the Securities and Futures Commission to operate as an automated trading services provider. HKMEx trades are cleared and settled through HKMEx-appointed clearing house LCH.Clearnet in London. Trading activity on the HKMEx trading platform is not covered by the Investor Compensation Fund.
For more about HKMEx, visit www.hkmerc.com.