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LME WEEK ASIA: HKEx hopes mutual market access in stocks can be replicated in metals
April 22, 2014 - 15:46 GMT
Hong Kong Exchanges & Clearing (HKEx) hopes that the Shanghai-Hong Kong connection will help it expand in the commodities and metals space sooner rather than later, ceo Charles Li said on Tuesday April 22.
"Commodities is still a concept and is being worked on," Li
told a press conference in Hong Kong. "It took 20 years to
build the Shanghai-Hong Kong connection. [Let’s]
hope it won’t take another 20 years," he said.
"China is the [world’s] largest importer of
commodities, but not necessarily able to hedge risks as
international markets are closed [to it]," he said, adding that
the international market uses London Metal Exchange contracts
to hedge risks in metals trading. "The futures markets [in
China and outside]...
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Euromoney Institutional Investor PLC.
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