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Economy | Time: Nov 12 2019 8:35AM
Dalian Commodity Exchange gets license from Singapore in iron ore futures trading
 
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BEIJING, Nov. 11 (Xinhua) -- The Dalian Commodity Exchange (DCE) was listed by the Monetary Authority of Singapore as a "recognized market operator" (RMO) Monday, which allows it to promote its iron ore futures trading among Singapore traders.

Singapore is a leading global finance, trade and shipping center and the RMO license marks an important step for the DCE to provide a legitimate and convenient channel for Singapore traders to trade iron ore futures, said the DCE in a statement on its website.

This is the DCE's second license issued by an regulatory body outside the Chinese mainland, after it obtained an Automated Trading Service license from the Hong Kong Securities and Futures Commission in May 2018.

The DCE's iron ore futures have attracted extensive attention and participation of overseas markets during the past year.

By the end of October, more than 170 overseas clients from 15 countries and regions including Singapore, Australia and the United Kingdom, as well as China's Hong Kong, have opened accounts, of which more than 110 have participated in iron ore futures trading.
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