StoneX Provides Access to the Chinese Commodity Markets

Rhea-AI Summary

StoneX Financial, a subsidiary of StoneX Group Inc. (NASDAQ: SNEX), has become an Overseas Intermediary for major Chinese commodity exchanges, including the Dalian Commodity Exchange, Shanghai International Energy Exchange, and Zhengzhou Commodity Exchange. This new status allows StoneX's clients to access key futures contracts, such as Iron Ore and Medium Sour Crude Oil, enhancing international trading capabilities. The firm aims to provide 24-hour trading support and solidify its strategic position in the Asia Pacific markets, thus facilitating clients’ futures trading strategies.

Positive

• Access to major Chinese commodity futures markets, enhancing trading capabilities.
• Ability to offer clearing and execution services for high-demand contracts like Iron Ore and Medium Sour Crude Oil.
• Strategic expansion in Asia Pacific, strengthening StoneX's market presence.

Negative

• None.

SINGAPORE, May 26, 2021 /PRNewswire/ -- StoneX Financial Pte. Ltd. ("StoneX" or the "Company"), a subsidiary of StoneX Group Inc. (NASADAQ: SNEX), today announced that it has become an Overseas Intermediary of the Dalian Commodity Exchange (DCE), Shanghai International Energy Exchange (INE), and the Zhengzhou Commodity Exchange (ZCE), giving it the ability to offer access to key Chinese commodities futures contracts available to international clients.  

StoneX clients will now have access to these key Chinese commodity markets and the ability to trade internationalised contracts such as the DCE Iron Ore futures, which is one of the most heavily traded metals futures contracts in the world. StoneX now has the ability to offer its clients clearing and execution services on the following futures contracts:

Exchange	Contract
DCE	Iron Ore
DCE	Palm Olein Futures
INE	Medium Sour Crude Oil
INE	TSR 20# Rubber
INE	Low Sulphur Fuel Oil
INE	Copper Futures
ZCE	Purified Terephthalic Acid (PTA)

Lian Tuck (LT) Lee, Head of Listed Derivatives, Asia for StoneX Financial Pte. Ltd., commented on the news, "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. We look forward to offering to our international clients our best-in-class market access, wherever they may be based."    

This exciting new market access complements StoneX's build out of its substantial product capabilities across Asia Pacific and furthers its goal of providing unparalleled access to all major exchanges globally via its 24-hour futures and options desk in Singapore. Clients will benefit from having full execution capabilities on these contracts during local market hours, allowing for effective and expeditious trading in the Chinese markets. StoneX is an institutional-grade financial services network that connects companies, organisations, traders and investors to 39 derivatives exchanges, 175 foreign exchange markets, nearly every global securities marketplace and a number of bi-lateral liquidity venues. By establishing itself as an Overseas Intermediary at these key Chinese futures exchanges, the Company has further solidified its strategic position in the region. 

Greg Kallinikos, Chief Executive Officer of StoneX Financial Pte. Ltd., concluded, "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. Being able to offer access to internationalised Chinese futures contracts will allow our clients to pursue their derivatives trading strategies across even more markets globally via a single, trusted access point – StoneX."

About StoneX Group Inc.
StoneX Group Inc. (formerly INTL FCStone Inc.), through its subsidiaries, connects clients with the global markets across all asset classes – providing execution, post-trade settlement, clearing and custody services through one trusted partner. Clients use its global financial services network to pursue trading opportunities, make investments, manage their market risk, and improve their performance. A publicly traded company (NASDAQ:SNEX) headquartered in New York City, StoneX Group Inc. and its 3,000 employees serve more than 35,000 commercial and institutional clients, and 340,000 active retail accounts, from approximately 70 offices spread across six continents.

StoneX Group Inc. facilitates clearing and trading on SGX (among other major exchanges) via its wholly owned subsidiary in Singapore, StoneX Financial Pte. Ltd.

Further information on the Company is available at www.stonex.com.

Media Contact
Jay A. Morakis
M Group Strategic Communications (for StoneX Group Inc.)
+1 646 859 5951  
jmorakis@mgroupsc.com   

SNEX - G

 

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SOURCE StoneX Group Inc.

FAQ

What recent announcement did StoneX Group Inc. (SNEX) make regarding Chinese commodity markets?

StoneX announced it has become an Overseas Intermediary for several major Chinese commodity exchanges, enabling access to key futures contracts for international clients.

What futures contracts can StoneX's clients now trade as a result of the new announcement?

StoneX clients can now trade contracts such as Iron Ore, Medium Sour Crude Oil, Palm Olein, and Copper on major Chinese commodity exchanges.

When was the announcement made about StoneX's new status in Chinese markets?

The announcement was made on May 26, 2021.

How does the new status as an Overseas Intermediary benefit StoneX's clients?

It allows clients to leverage a 24-hour trading desk for effective trading strategies in the Chinese markets.

What is the significance of StoneX's ability to access internationalized Chinese futures contracts?

This access enables clients to diversify their trading strategies across more markets globally via StoneX's platform.