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."
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