MF Global failure catalyst for Nanhua Futures overseas expansion
Chinese firm looking to join 12 global exchanges in bid to provide secure trading access to clients
While much attention has been paid to global firms' efforts to access onshore markets, Chinese firms have been quietly building up their international presence. And the leader of the pack so far has been futures commission merchant (FCM) Nanhua Futures.
The Hangzhou-based broker became the first Chinese FCM to become a clearing member at CME in February this year and is now setting its sights on Europe and the Middle East as it looks to establish a global clearing access product for its clients
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