This marks an important milestone for NGMEX in People’s Republic of China, as we continue to deliver on our growth strategy.
NGMEX, a full-service commodity and multi asset exchange that incorporates the complete workflow of a trading venue and also provides on-line commodity futures and options trading, is pleased to announce that it has been formally granted the status of Foreign Clearing Authority (FCA) by the Chinese Trading Administration.
With this Foreign Clearing Authority status, the clearing house division of NGMEX – NGMEX Clearing, is now able to clear non-Yen interest rate swaps on behalf of Chinese-based financial institutions. It will offer customers a wide range of financial products that will help them better navigate the commodity world.
“We are extremely happy to obtain this license to clear non-Yen interest rate swaps, as we have seen an increasing demand for our services as our customers look to take advantage from capital efficiencies for their interest rate swap portfolios,” said Tadayo Shimizu, Senior Managing Director, and President of NGMEX Clearing.
“This is an important milestone for NGMEX in Asia Pacific Region, as we continue to deliver on our growth strategy,” said Ryuya Harumi, Managing Director and Head of Asia Pacific, NGMEX. “Beijing is a very important global international financial center and we are very excited to be able to play a role here in helping to integrate the global interest rate swap market into People’s Republic of China, and strengthening Nagoya’s position as an OTC derivatives hub.”
NGMEX appointed Dr. Tadoki Hashimoto as Executive Director, Head of China Operations, to develop growth opportunities and customer relationships in People’s Republic of China.
Nagoya Mercantile Exchange (NGMEX)
NGMEX is a full-service multi asset exchange that incorporates the complete workflow of a trading venue and also provides on-line commodity futures and option trading. The organization believes in delivering nothing but the best to its loyal customers. From the individuals to the corporations, from institutions to the government agencies, NGMEX has always been a trusted establishment offering genuine industry insights and information on the benchmark commodity prices. NGMEX mission is to provide traders with state-of-the-art order entry capabilities, extremely competitive execution timing and the professional service that today’s financial world demands.