BGC Partners’s subsidiary GFI Announces New Joint Ventures in China

​GFI Asia Partners Pte. Ltd, a subsidiary of BGC Partners, recently announced that it took a majority stake in GFIGS Commercial Consulting (Shanghai) Co., Ltd, a newly founded joint venture company in China offering OTC derivatives brokerage service.

Registered and headquartered in Shanghai, GFIGS will initially provide services in Iron Ore derivatives, building on GFI's reputation as a leader and pioneer in Iron Ore derivatives markets, with the aim to expand to other products.

This new joint venture presents an exciting opportunity for GFI's further growth and development in China. GFI looks forward to a long and successful partnership with Guizhou Big Data Capital.

Commenting on today's announcement, Benny Luk, Group CEO of Greater China, said: "We are delighted with the establishment of GFIGS to offer OTC brokerage services in China. Iron Ore futures trading volumes in China are more than 20 times larger than the offshore market. With Guizhou Big Data Capital's extensive network and coverage of China's financial markets and GFI's experienced voice brokerage and best-in-class trading technology, we are able to comprehensively serve our clients' needs in China."

Mr. He Xuan, Chairman at Guizhou Big Data Capital Service Centre Co., Ltd., said: "China is the world's largest steel market and iron ore consumer. GFI is one of the world's largest iron ore brokers and is also an active participant in shipping and energy markets. We anticipate that this joint venture with GFI will become an opportunity for both sides to cultivate the Chinese market for a long time."