The Dalian Commodity Exchange (DCE) has announced that it was listed by the Monetary Authority of Singapore as a "recognized market operator" (RMO) on November 11, which allows it to promote its iron ore futures trading among Singapore traders.
Singapore is a leading global finance, trade and shipping center. Gaining the RMO license is an important step for the DCE to provide a legitimate and convenient channel for Singapore traders to trade iron ore futures, as announced by the DCE in a statement on its website.
This is the DCE's second license issued by a regulatory body outside the Chinese mainland. It has obtained an Automated Trading Service license from the Hong Kong Securities and Futures Commission in May 2018.
The DCE's iron ore futures have garnered extensive attention and participation of overseas markets.
By the end of October this year, 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 at the DCE, of which more than 110 have participated in iron ore futures trading.