On Wednesday, listed commodities broker StoneX (formerly known as INTL FC Stone) announced that, via its Singapore-based subsidiary StoneX Financial Pte. Ltd., it has been approved as an Overseas Intermediary of the Dalian Commodity Exchange, Shanghai International Energy Exchange, and Zhengzhou Commodity Exchange. The designation means that StoneX can offer trading access to key, internationalized Chinese commodities futures to its global clients. This includes access to the DCE Iron Ore Futures contract, one of the world’s most heavily traded metals futures contracts.
“Our status as Overseas Intermediary at these key Chinese futures exchanges will allow clients to leverage the capabilities of our Singapore-based 24-hour clearing and execution desk to facilitate their futures trading strategies in the Chinese markets,” said StoneX’s Head of Asia Listed Derivatives Lian Tuck Lee.
StoneX is an institutional-grade financial services network that connects companies, organizations, traders and investors to 39 derivatives exchanges, 175 foreign exchange markets, nearly every global securities marketplace and a number of bilateral liquidity venues. StoneX says that establishing itself as an Overseas Intermediary at these key Chinese futures exchanges allows it to consolidate its strategic position in the region.
“As one of the largest non-bank brokers in Asia, our participation in the Chinese commodity markets further strengthens our presence in the region by connecting our clients to even more exchanges,” said Greg Kallinikos, CEO of StoneX Financial Pte Ltd.
Earlier this month, StoneX announced that through its London-based subsidiary, StoneX Financial Ltd., it has become a member of the London Stock Exchange as well as Turquoise, the multilateral trading facility (MTG) owned by the LSE. Also earlier this month, the company has also gone newly live with several enhancements to its StoneX direct access OTC platforms for commodities trading platform, MyStoneX, which enables self-service trading in more than 200 commodity products.
