Reuters: CME Group sees Chinese hedge funds, state-owned firms driving Asia growth
Feb 21 China’s 2015 market crash sparked a surge in Asian trading for futures exchange giant CME Group as Chinese funds hedged their risk offshore and growth prospects remain strong, the bourse’s head of Asia said on Tuesday.
Christopher Fix, managing director for Asia for Chicago-based CME, said the bourse expects to see volumes lifted as China’s state-owned enterprises, driven by Beijing’s reform agenda, move to better manage their commodity and currency exposures.
“We are attracting a whole new different client base. There is a whole new hedge fund complex that’s developing in China around asset managers,” Fix, who’s based in Singapore, told Reuters.