– Underlines London's position as a centre for international finance
– Follows major Chinese ETF listings and RMB fundraising on the Professional Securities Market (PSM)
London Stock Exchange today welcomed GF Financial Markets (UK) LTD (GFFM) as its newest member; the first Chinese member firm focussing on equity and derivatives trading to join its markets.
GFFM, part of the wider, Guangzhou-based GF Securities group is one of the largest integrated securities brokerage firms in China and also recently became a member of LCH.Clearnet, the leading multi-asset global CCP majority owned by London Stock Exchange Group.
GFFM is London Stock Exchange's second Chinese member, joining CICC, and the move highlights London's position as a global financial centre with investment links between the UK and China continuing to grow. In January, two China-focussed ETFs listed in London, including the CSOP Source FTSE China A50 UCITS ETF, the first ETF giving European retail and institutional investors access to China A shares. In the same month, Bank of China issued an RMB2.5bn (£250m) bond – the largest ever of its kind – on London Stock Exchange's PSM.
Nicolas Bertrand, Head of Equity and Derivatives Markets, LSEG said:
"We are delighted to welcome GF Financial Markets as a member. In joining our markets, it highlights the increasing appeal that London holds as a venue of choice for Chinese investment, trading and capital raising. This helps further strengthen the UK's ties with China and reinforce the reputation of London as one of the world's leading financial centres."
Edward Shi, Managing Director, GFFM said:
"GFFM is very pleased to become a London Stock Exchange member, following the acquisition of NCM Ltd last year and our admittance as the first Chinese category 1 ring member in LME. London is a leading international financial centre in the world, famous for its connectivity, diversity and speciality. We will make the best use of this platform to achieve GF group's international dream and dedicate ourselves to serve Chinese and international investors."