China's GF Financial Markets join LSE

LONDON - London Stock Exchange Friday welcomed GF Financial Markets (UK) LTD (GFFM) as its new member, said the stock exchange via a press release. GFFM is also the first Chinese firm focusing on equity and derivatives trading to join its market.

GFFM, which is part of Guangzhou-based GF Securities, is LSE's second Chinese member, joining China International Capital Corporation (CICC).

GF Securities is one of the largest integrated securities brokerage firms in China. Last year, GFFM became the first Chinese category 1 ring member of London Metal Exchange, following the acquisition of NCM Ltd, a Britain-based futures company.

GFFM has also recently become a member of LCH. Clearnet, the global Central Counter Party owned by London Stock Exchange Group (LSEG).

Economic and financial ties between the two countries have been continuously fastened since the beginning of this year, following a blossom of Chinese investment in Britain in 2013.

In January, two China-focused Exchange Traded Funds (ETF) listed in London. In the same month, Bank of China issued a 2.5-billion-yuan ($410 million) bonds, the largest ever of its kind, on LSE. Currently, there are 58 Chinese companies listed on LSE's markets.

Nicolas Bertrand, Head of Equity and Derivatives Markets at LSEG, commented that: "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."

Edward Shi, Managing Director at GFFM, said: "London is a leading financial center in the world, famous for its connectivity, diversity and specialty. We will make the best use of this platform."