Photo by Nastya Dulhiier via Unsplash.
It is the first American bank to clinch the approval.
Citibank (China) has received approval from the Shanghai Futures Exchange (SHFE) and the International Energy Exchange (INE) to act as a Futures Margin Depository Bank (FMDB) for its Qualified Foreign Investor (QFI) clients to trade commodity futures on the SHFE and INE.
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This makes Citi the first American bank to receive the approval.
With this, Citi’s China business can now serve as a futures margin depository bank to assist foreign investors to invest in China’s capital markets.
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