China Merchants Futures, a wholly owned subsidiary of CMS, holds trading settlement membership on the four major futures markets including: Shanghai Futures Exchange, Dalian Commodity Exchange and Zhengzhou Commodity Exchange. China Merchants Futures has the licenses to trade all futures on China’s futures markets. Currently, CMS IB business has full operation in CMS headquarters and business outlets after obtaining Futures Intermediary Business qualification from CSRC. Investors can open an account directly at CMS business outlets for futures trading.