The Dubai Gold and Commodities Exchange (DGCX) announced today that Nanhua Futures Hong Kong, a wholly-owned subsidiary of Nanhua Futures China, the leading Chinese overseas futures company, has been approved as a broker member of the exchange.
Earlier this month, the China Financial Futures Exchange and DGCX signed a Memorandum of Understanding (MoU) with each other. This was the first such agreement signed by a Shanghai venue with an exchange in the Middle East. Today's move further strengthens the link between the United Arab Emirates venue and the Chinese market.
Established in 1996, Nanhua Futures is actively involved in both commodity and financial futures brokerage services. The company maintains member status of Shanghai Futures Exchange, Zhengzhou Commodity Exchange, and Dalian Commodity Exchange, and is one of the first companies to gain general clearing member status of the China Financial Futures Exchange. With a registered capital of 510 million RMB, Nanhua Futures is recognized as one of the top ten futures companies in China.
Gaurang Desai, Interim CEO of DGCX, said, "We are excited to introduce Nanhua to the DGCX community as a Broker Member. Nanhua offers comprehensive market views and a range of Risk Management tools to their members, and its addition to our member base further demonstrates our ability to provide a platform for international brokerages to expand and grow their business in the region. DGCX's continually expanding product portfolio coupled with its Emerging Market strategy means that the Exchange is well positioned to continue to attract international broker members."
"We are delighted to join DGCX as a broker member as this will expand our reach to the Middle East & North African (MENA) region as well as to the South Asia sub-continent. This collaboration will enable us to provide our members with a secure platform to trade a wide range of regional products. We look forward to growing a strong relationship with DGCX," said David Luo, General Manager of Nanhua Futures Co. Ltd and CEO of Nanhua Futures (Hong Kong) Co. Ltd.
