Three of China’s most prominent futures brokerages are knocking on the London Metal Exchange’s door, and this time they’re not looking for a tour. Yongan Futures, Guotai Junan Futures, and Orient Futures are all pursuing membership at the LME, the world’s primary venue for base metals futures and options trading.
China is the world’s leading producer and consumer of industrial metals, yet its brokerages have historically accessed the LME indirectly, routing trades through non-Chinese clearing members.
What’s actually happening
Each of the three firms is at a different stage of the process. Yongan Futures, headquartered in Hangzhou, appears to be the furthest along. The firm established a UK-based entity in 2025 and has already appointed leadership for its London operations.
Guotai Junan Futures is actively in the application process for LME membership. Orient Futures also has plans to pursue membership, though the timeline on that effort remains less defined.
