Wednesday saw the grand opening of an automated trading services outfit in China, according to a press release.
The Hong Kong Mercantile Exchange provides an electronic platform for commodity trading. Eighteen members helped kick off the exchange, which includes the globe’s largest financial institutions and trading firms. Renowned brokerages in Hong Kong also became involved.
"This trading debut marks a historical milestone while creating a liquid and vibrant international commodities exchange based in Hong Kong, linking China with the rest of Asia and the world," chairman Barry Cheung said in prepared remarks. "Our approach from the beginning of this journey has been to use the most advanced architecture, and the best versatility, functionality and performance of Cinnober's product offerings to enable us to provide best-in-class services to our customers."
Cinnober provides technology that enables trading, post-trading and surveillance technology. The service enables high liquidity and trading volumes on a secure and scalable platform that is high end.
"I think this launch is of utmost interest since HKMEx is uniquely positioned to create an efficient bridge between mainland China and the international financial community,"according to Cinnober chairman Nils-Robert Persson. "We're proud to have delivered one of the most advanced trading systems in the Asia Pacific region to this high-profile initiative."
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.