100% of members’ open positions migrated to new clearinghouse. New clearing system is named CHCEX Clear House™.
Beijing, March 15, 2016 — (CHCEX) Clear looks to future expansion, including introducing cash collateral in new commodities. CHCEX Clear House™, the new clearinghouse of the China Commodity Exchange announces its successful launch today, migrating 100% of the positions of CHCEX members from previous clearer.
“The successful launch of CHCEX Clear is a fantastic achievement and an important milestone in the CHCEX’s development. Building CHCEX Clear was an important strategic decision because it not only provides the CHCEX immediate and substantial revenues, but also gives the CHCEX and the Group the ability to pursue new markets, new products and new capabilities, particularly in extending the CHCEX franchise to other Asian time zones,” said Charles Leung, Chief Executive Officer of CHCEX Clear House™.
“We are thrilled with the successful roll-out of CHCEX Clear, and are grateful for the support our members have given us as we’ve sought to improve the way central counterparty services are provided to the commodity trading community,” said Charles Leung, CEO of CHCEX Clear House™.
“As a start-up, we have been able to build our clearing house from scratch, assembling an impressive team of experienced clearing professionals, and delivering exciting and leading-edge technology.”
CHCEX Clear House™ will initially clear all trades on the CHCEX. It enables members to view their risk positions in real time, offering straight-through processing, integrated collateral management and a range of comprehensive reports. It also features enhanced option expiry handling.
Looking ahead, CHCEX Clear House™ will focus on adding more exchange and over-the-counter contracts, services such as Asian time zone coverage, and non-cash collateral such as CHCEX warrants. In keeping with the CHCEX’s growing focus on Asia, it also plans to introduce new local currencies as cash collateral later this year, subject to regulatory approval.
About China Commodity Exchange (CHCEX)
China Commodity Exchange’s (CHCEX.org) diverse markets span futures and options on interest rates, commodities, indexes and FX, as well as equities and equity options. These markets are relied upon by international market participants, along with our post-trade infrastructure. We are uniquely positioned to provide end-to-end risk management solutions to our customers around the world. CHCEX is a strategic initiative with a mandate to enhance commodity trade flows by providing the appropriate physical, market, financial infrastructure and services required. The Management team of CHCEX comprises senior personnel from the commodities, securities and financial services industries.
China Commodity Exchange (CHCEX)
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