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LME WEEK ASIA: HKEx will launch metals minis, coal contracts
April 22, 2014 - 13:45 GMT
London Metal Exchange
Hong Kong Exchanges & Clearing (HKEx) has confirmed it will launch four futures contracts – aluminium, zinc, copper and thermal coal – later this year.
The contracts will be running by the third quarter or fourth
quarter, subject to regulatory approvals, HKEx said at a press
conference in Hong Kong on Tuesday April 22. Metal Bulletin
broke the news about the plans for a 5-tonne, yuan-denominated,
monthly, cash-settled metals contracts today. "We want to
be the Chinese exchange of choice for international clients,"
HKEx ceo Charles Li told reporters at the Hong Kong press
conference. The products that the commodities platform is
launching will meet the needs of the industry in Asia and help
to grow the bourse’s commodity footprint in the
region. "We hope to launch [these products] this year subject
to SFC approval by, say, September, October, November or
December," he said. All 179 futures member of the HKEx will be
able to trade these contracts. This represents a 10% overlap
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