Chinese futures brokerage firm Nanhua Futures has taken steps to attain category II clearing membership on the London Metal Exchange, with a particular focus on trading LME warrants, Fastmarkets understands.
The Hangzhou-headquartered firm aims to expand its commodity portfolio to the London market under the title of Nanhua Financial UK. The company currently operates 24 branches and six futures research institutes across mainland China. Its London operations, with a proposed headcount of 20-25 employees will be locally hired, investing in key positions to manage risk ahead of regulatory approval from the Financial Conduct...