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LME WEEK ASIA: HKEx will launch metals minis, coal contracts

April 22, 2014 - 13:45 GMT Location: Hong Kong

KEYWORDS: LME , HKEX , London Metal Exchange , new contracts , aluminium , zinc , copper , thermal coal

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 with members...

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