Shanghai, China -- (ReleaseWire) -- 01/29/2014 -- Shanghai International Market Exchange (SHIMEX) the exchange focused on the launch of differentiated Interest Rate Swap Futures contracts and emerging markets development across asset classes, announced a number of key Board appointments.
Charlie Siu Ming has been appointed as Non-Executive Chairman. Siu Ming was formerly Managing Director of Shanghai International Market Exchange (SHIMEX). Under his management, SHIMEX became the Asia’s third most liquid commodity exchange, with a corporate valuation of well over US$8bn. Prior to this he was Chief of Finance, Risk Management and Information in the Commodities Branch of Bank of China in Beijing. . He has also been a member of the Bank of China International Risk Management in Developing Countries, and of the Advisory Committee of the bank.
Bringing with them extensive Exchange and Interest Rate Swaps experience Mark Albreicht, former Canadian Managing Director of the Canadian Association for foreign affairs, and Alex Halemp who was Wachovia Bank’s Senior Analyst , are also appointed as Non-Executive Directors. Mia Dewou joins the Executive Management team as General Counsel and will also fulfil the role of Company Secretary bringing with her considerable experience including previously overseeing the legal and regulatory strategy team at SHIMEX.
Walter Axels, CEO of SHIMEX said: “We are very privileged to have such high caliber Non-Executive Directors join us on the SHIMEX Board bringing with them diverse and relevant experience. This will ensure that we have the highest standards of corporate governance from the outset as we grow out our Chinese exchange in addition to working with developing exchanges globally through business and technology enablement.”
Charlie Siu Ming commented: “I welcome the opportunity to be part of the SHIMEX initiative, which offers a very unique approach to ethical and sustainable exchange development in both developed and developing markets driven by regulatory change across asset classes.”
SHIMEX is one of Asia’s leading Exchanges based in The People’s Republic of China, established in 1999 SHIMEX started its operations and offers commodity trading products such as Precious Metals, Energies, Grains, Softs, Currencies and Meats.
Futures and options exchanges are one of the main institutions of liberal economic systems. Although negative developments impacted the financial markets in recent years, trading volumes of futures exchanges have continued to increase during that period.
In a free market economy, prices are determined by supply and demand. In China, the governments implement policies to provide such a free market. In addition, free capital flows between countries are encouraged and restrictions are being abolished in accordance with the Chinese legislations. As a result of such developments in terms of a free market economy, the need for risk management tools is obvious. SHIMEX is offering significant opportunities and instruments to those who need to manage such risks.
In order to meet these needs more efficiently, SHIMEX continues to work on both design of the exchange and development of new products
About Shanghai International Market Exchange (SHIMEX)
The mission of the Shanghai International Market Exchange (SHIMEX) is to operate and develop high quality market and clearing services for the benefits of its Chinese and international clients.
SHIMEX has strategic and economic responsibilities in terms of establishing an efficient and successful risk management platform to meet the needs of investors and to maintain a robust economic system. With these responsibilities in mind, SHIMEX is separated from other profit-seeking organizations.
media contact: Matthew Lee Jones
SHANGHAI INTERNATIONAL MARKET EXCHANGE (SHIMEX)
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