CQG Continues to Grow Presence in China as Markets Open to Overseas Traders
CHICAGO / DENVER / DALIAN, China, May 4, 2018 – CQG, Inc. today announced its connectivity to the Dalian Commodity Exchange (DCE) to offer global clients access to iron ore futures. The move marks the second Chinese market available on CQG, as the firm continues to expand business in China with offices, local staff, infrastructure, and exchange coverage. China is opening markets with new approved mechanisms for foreign participation in products such as INE crude and DCE iron ore futures. CQG is leading the way among foreign vendors to support coverage and developing important relationships in the region with Chinese futures commission merchants (FCMs) and investors.
In mid-March, CQG announced that the Shanghai International Energy Exchange (INE), a unit of the Shanghai Futures Exchange that launched March 26, would be the first Chinese market available on CQG. The launch of that marketplace represented the first time retail foreign investors could participate in a Chinese commodities market.
Kelvin Chia, General Manager, CQG China said: “Following our successful rollout of access to INE, we’ve seen a growing interest from foreign investors and futures brokerage and clearing firms within mainland China. We’re thrilled to announce this access to the Dalian Commodity Exchange and its popular iron ore futures contract from the minute it is available to investors around the world. We are proud to continue our expansion in mainland China and to provide seamless access to these important markets for our customers around the globe.”
According to DCE, China is the largest iron ore import country in the world. The China Securities Regulatory Commission (CSRC) announced on April 13 its approval of the opening of the iron ore futures contract to overseas traders.