Which three Chinese brokerages are preparing to apply for London Metal Exchange (LME) membership, and what is the strategic significance of this move?

The three Chinese brokerages preparing to apply for LME membership are Yongan Futures, Orient Futures, and Guotai Junan Futures. This move aims to expand China's presence on the world's largest industrial metals marketplace, capture a larger share of revenue from metals derivatives trading, and advance the brokers' global expansion ambitions—especially given that only six of the LME's more than 40 clearing members are Chinese, despite China being the world's top metals consumer.

What concrete steps has Yongan Futures taken toward LME membership, and how does it frame its broader international strategy?

Yongan Futures has established a UK entity named Yongan International Financial (UK), appointed Zhang Wei—a former employee of existing Chinese LME member GF Financial Markets—as director in April to lead the LME approval process, and is applying for a regulatory licence from the UK's Financial Conduct Authority. The firm states this lays 'a solid foundation for legal and compliant operations in the UK and European markets' and aims, by leveraging London's advantages and collaborating with resources in Hong Kong and Singapore, to become 'a leading cross-border integrated financial services provider.'

Chinese brokerages push for LME membership to expand global metals role

Jun 26, 2026

Three major Chinese futures brokerages are applying for London Metal Exchange membership to increase their share of global industrial metals trading revenue and enhance China's representation on the exchange.

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