Nanhua Futures

What Nanhua Futures does

Nanhua Futures Co., Ltd. is a Hangzhou-headquartered Chinese financial derivatives services company founded in 1996, operating as the financial futures arm of Hengdian Group. The firm holds first-batch full clearing membership at all major Chinese exchanges — CFFEX, SHFE, DCE, CZCE, and GFEX — and trading participant status at SSE and SZSE, providing futures and options brokerage, asset management, fund distribution, and risk management to retail investors, institutional clients, and corporate hedgers. The company is dual-listed on the Shanghai Stock Exchange (603093, August 2019) and the Hong Kong Stock Exchange (02691, December 2025), and serves as a derivatives distribution hub for Hengdian Group's industrial portfolio.

The company operates a vertically integrated technology stack anchored by the proprietary Nanhua Speed Trading System, the Nanhua Infinite Ease professional trading platform supporting Python-based programmatic strategies, and the proprietary trading counter (自研柜台). Its trading infrastructure runs on Shanghai Futures Technology's CTP (Comprehensive Transaction Platform) backend, with API access (production port 41207, market data port 41215) and integrations with third-party software (Pobo Cloud, Esunny, Wenhua, Kuaqi V2/V3, ATP). Research assets include the proprietary Nanhua Commodity Index family (launched 2008, version 2.1 in 2012) and the 南华投研通 investment research platform covering daily, weekly, quarterly, and annual reports across 16 commodity and financial futures categories. International operations span Nanhua USA (Chicago), Nanhua Singapore, and Henghua International (Hong Kong), with clearing memberships at CME, ICE U.S., ICE Singapore, Nodal Exchange, Coinbase Derivatives, MIAX, and Cboe Clear U.S.

Revenue is generated through transaction-based brokerage commissions across domestic and international exchanges, subscription-style asset management fees, fund distribution commissions, and risk management services through subsidiary Nanhua Capital. Distribution combines direct online account opening via nanhua.net and mobile apps (iOS/Android/Windows) with institutional field sales for corporate hedging clients. Marketing is content-led, leveraging daily research reports, Nanhua Live Streaming (南华直播), an investor education base (投教基地), and a broad Chinese social media footprint across WeChat, Weibo, Douyin, Xiaohongshu, Bilibili, Baidu, Xueqiu, and 10jqka.

Name

Nanhua Futures

Legal name

Nanhua Futures Co., Ltd. (南华期货股份有限公司)

Website

https://nanhua.net

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Nanhua Futures is a Hangzhou-based Chinese derivatives broker founded in 1996, providing futures and options brokerage, asset management, and risk management to retail and institutional clients via full clearing membership at all major Chinese exchanges and international subsidiaries in the US and Singapore.

Ownership category

akta.pro rank

Product category

Futures Brokerage and Derivatives Services

NAICS

Commodity Contracts Intermediation (52316), Securities and Commodity Exchanges (523210)

SIC

Commodity Contracts Brokers & Dealers (6221), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Retail Crypto Brokerages (Simple Buy/Sell) (FSADAAAB)

akta.pro secondary industries

Crypto Derivatives Exchanges (Futures, Options & Perpetuals) (FSADAAAD), Interest Rate Futures & Options Exchanges (FSAFABAB), Perpetual Futures (Perps) Venues & Protocols (FSADAGAA)

Keywords

• Futures brokerage
• Derivatives trading
• Asset management
• Commodity index
• International securities

Headquarters

HQ city

Hangzhou

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Futures Brokerage: Core revenue stream from futures trading commissions. The company is a clearing member and full member of all major Chinese futures exchanges including China Financial Futures Exchange (CFFEX), Shanghai Futures Exchange (SHFE), Dalian Commodity Exchange (DCE), Zhengzhou Commodity Exchange (CZCE), and Guangzhou Futures Exchange (GFEX). Also a trading participant of Shanghai Stock Exchange and Shenzhen Stock Exchange.
2. Asset Management: Asset management services including proprietary asset management plans and consigned financial products distribution, with risk rating classifications for different product tiers.
3. International Business: Revenue from international derivatives trading through subsidiaries including Nanhua USA (US derivatives) and Nanhua Singapore (Singapore derivatives). Grew at 68% CAGR from 2022-2024.
4. Nanhua Capital: Risk management services and capital management operations through Nanhua Capital subsidiary.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Nanhua Futures is a Chinese derivatives services company that provides futures and options brokerage on all major Chinese exchanges (CFFEX, SHFE, DCE, CZCE, GFEX, INE), alongside asset management, fund distribution, risk management, and international derivatives trading through its Nanhua USA, Nanhua Singapore, and Henghua International subsidiaries. The company operates proprietary trading systems (Nanhua Speed Trading System, Nanhua Infinite Ease) and analytical platforms including the proprietary Nanhua Commodity Index family and Nanhua Investment Research platform.

Product overview

Nanhua Futures operates as a comprehensive financial derivatives services company with a multi-product portfolio. Its core infrastructure consists of proprietary trading systems (南华极速交易系统 and 自研柜台) that power futures and options trading across all major Chinese exchanges (CFFEX, SHFE, DCE, CZCE, GFEX, INE) and international markets. The product ecosystem includes: (1) professional trading platforms — the proprietary Speed Trading System, Infinite Ease professional/programmatic trading tools, and multi-platform client software (iOS/Android/Windows); (2) research and analytics tools — 南华投研通 (investment research platform with charting, market surveillance, and factor-based screening), 南华智创分析系统 (intelligent analysis), and the 南华商品指数 family (proprietary commodity indices with versions 2.0 from 2008 and 2.1 from 2012); (3) wealth management services — asset management, fund distribution, and risk management via 南华资本; (4) international business — international futures, securities, and forex trading via Henghua International (横华国际) with exchange memberships on ICE Singapore, Nodal Exchange, CME, ICE U.S., MIAX, and Cboe; and (5) content services — 南华直播 (live streaming), research reports (daily/weekly/quarterly/annual), and 南华期货报 (in-house publication). The company listed on Shanghai (603093) in August 2019 and completed a Hong Kong IPO (02691) in December 2025.

Differentiator

Problem solved

Functional benefit

Brands

• Nanhua Index (南华指数): Commodity index products including Nanhua Commodity Index used for benchmarking and derivatives development
• Nanhua Investment Research (南华投研通)
• Nanhua Speed Trading System (南华极速交易系统)
• Henghua International (横华国际)
• Nanhua Capital (南华资本)

Products and services

• Nanhua Speed Trading System (南华极速交易系统) Proprietary ultra-low latency trading system developed by Nanhua Futures for professional futures traders requiring high-speed order execution and real-time market data processing.
• Proprietary Trading Counter System (自研柜台) Internally developed trading backend system serving as the core technology platform for Nanhua Futures' clearing and trading operations.
• Nanhua Futures Trading Client (南华期货交易客户端) Multi-platform professional futures trading software covering iOS, Android, and Windows, offering real-time market data, fast order placement, and risk control alerts.
• Nanhua Infinite Ease Professional/Programmatic (南华期货无限易) Professional multi-account trading platform supporting futures, futures options, and stock options; features local conditional orders, strategy orders, Python strategy development, and English-language interface.
• Asset Management (资产管理) Asset management services including risk management solutions and structured investment products managed by Nanhua's asset management division.
• Fund Distribution (基金业务) Fund product distribution and sales services providing access to third-party fund products with risk ratings, net asset value tracking, and real-time P&L reporting.
• International Futures Trading (国际期货交易) International futures trading services via Henghua International (横华国际), covering overseas futures markets including U.S., European, and Asian exchanges.
• International Securities Trading (国际证券交易) International securities trading services for Hong Kong stocks and other overseas equity markets via Henghua International.
• International Forex Trading (国际外汇交易) International foreign exchange trading services via Henghua International, enabling retail and institutional clients to trade forex products.
• Technical R&D Services / API Software Services (技术研发服务) API-based software technology services enabling programmatic trading access, CTP API integration, and non-standard trading system support for professional and institutional clients.
• Nanhua Commodity Index (南华商品指数) Proprietary commodity index family covering agriculture, metals, energy, and financial futures. Can be used as underlying for commodity index ETF funds and commodity index futures, and serves as a benchmark for futures investment returns.
• Nanhua Capital Risk Management (南华资本) Risk management and capital management services provided through Nanhua Capital subsidiary, offering professional hedging solutions to corporate and institutional clients.
• Nanhua USA Trading and Clearing Services US-based futures trading and clearing services via Nanhua USA LLC, providing clients access to Nodal Exchange, Coinbase Derivatives, CME Group, ICE U.S., MIAX Futures Exchange, and Cboe Clear U.S.
• Nanhua Singapore Derivatives Services Singapore-based derivatives exchange and clearing membership services via Nanhua Singapore, providing regional market access through ICE Futures Singapore and ICE Clear Singapore.
• Coinbase Derivatives FCM Services Crypto asset derivatives and index products access through Coinbase Derivatives FCM relationship, including near real-time margin top-up services.

Quantifiable outcome

• 68% CAGR international business revenue growth from 2022 to 2024
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature4 records

Partnerships

Nine partnerships are on record, tiered core.

• Nodal Clear, LLCcoreStrategic or Co-development Partner · 10 June 2026Nanhua USA became a new clearing member of Nodal Clear, enabling the firm to provide clients access to Nodal Exchange and Coinbase Derivatives contracts. This makes Nanhua USA the first and only Chinese futures firm able to both trade and clear products listed on Nodal Exchange.
• Nodal ExchangecoreStrategic or Co-development Partner · 10 June 2026Nanhua USA gained trading membership on Nodal Exchange, becoming the first and only Chinese futures firm authorized to both trade and clear products on the exchange.
• CME GroupcoreStrategic or Co-development Partner · 10 June 2026Nanhua USA is a clearing member of CME Group, providing access to CME's derivatives products including futures and options on various asset classes.
• ICE U.S.coreStrategic or Co-development Partner · 10 June 2026Nanhua USA is a clearing member of ICE U.S. (Intercontinental Exchange), providing access to ICE's US derivatives markets.
• MIAX Futures ExchangecoreStrategic or Co-development Partner · 10 June 2026Nanhua USA is a clearing member of MIAX Futures Exchange.
• Cboe Clear U.S.coreStrategic or Co-development Partner · 10 June 2026Nanhua USA is a clearing member of Cboe Clear U.S., providing access to Cboe's cleared derivatives products.
• Coinbase DerivativescoreStrategic or Co-development Partner · 10 February 2026Nanhua USA became a Coinbase FCM (Futures Commission Merchant) participant, enabling access to crypto asset derivatives and index products alongside near real-time margin top-up services through Coinbase Derivatives.
• ICE Futures SingaporecoreStrategic or Co-development Partner · 22 December 2025Nanhua Singapore became an exchange and clearing member of ICE Futures Singapore, enabling derivatives trading and clearing services in the Singapore market.
• ICE Clear SingaporecoreStrategic or Co-development Partner · 22 December 2025Nanhua Singapore became a clearing member of ICE Clear Singapore, providing central counterparty clearing services for derivatives trades.

Scale indicators5 records

Recent moves5 records

Broad incumbents

• Interactive Brokers: Global multi-asset electronic broker offering futures, options, and securities across 150+ markets with clearing memberships at major exchanges. Comparable to Nanhua in providing professional-grade cross-border brokerage and clearing access.
• Coinbase Global: Major US-listed crypto exchange and derivatives operator with Coinbase Derivatives. Nanhua's Coinbase FCM partnership gives it distribution into Coinbase's contracts, positioning Nanhua as a Chinese access channel to this venue's product set.
• StoneX Group: US-listed global financial services firm with retail and institutional brokerage in futures, options, and FX with FCM/clearing memberships at major US exchanges. Comparable in serving Chinese/international clients on global derivatives venues.

Emerging players

• Galaxy Digital Holdings: Public crypto and digital asset financial services firm with institutional trading, derivatives, and asset management in digital assets. Comparable to Nanhua's emerging crypto derivatives (Coinbase FCM, Nodal) franchise and AM ambitions.

Direct peers

• Guotai Junan Securities: Major Chinese securities and futures firm with clearing memberships across Chinese exchanges and institutional brokerage. Similar to Nanhua in offering integrated securities and derivatives brokerage, AM, and proprietary research.
• CITIC Securities (CITIC Futures): One of China's largest brokerages, with a CITIC Futures arm offering full-spectrum domestic and international futures/options brokerage, asset management, and clearing memberships. Closely comparable to Nanhua's product mix and Chinese exchange footprint.
• Zhongtai Futures (Zhongtai Securities): Chinese futures arm of Zhongtai Securities offering full exchange memberships and diversified derivatives services including asset management and risk management. Directly comparable to Nanhua's domestic product suite.
• Galaxy Futures (China Galaxy Securities): Chinese futures brokerage subsidiary of China Galaxy Securities with full exchange memberships and commodity/financial futures intermediation, structurally parallel to Nanhua as a mid-to-large domestic futures broker with affiliated securities parent.
• Haitong Futures (Haitong Securities): Domestic Chinese futures arm of Haitong Securities with clearing memberships across major Chinese exchanges, providing commodity and financial futures brokerage alongside asset management — a direct comparable in scale and product scope.
• Marex: London-listed global commodities and financial derivatives broker with broad clearing memberships and a complementary international footprint. Comparable to Nanhua in intermediating commodity derivatives and building cross-border exchange access.

Market position

Strengths5 records

Weaknesses5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubespace.bilibili.com/1948619666
• Xx.com/nanhuafutures
• LinkedInlinkedin.com/company/nanhua-futures

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nanhua Futures