SGX swapped rights to LME monthly futures for access in Hong Kong

The Singapore Exchange (SGX) gave up its exclusive right to London Metal Exchange-based monthly futures contracts in Asia as part of its recent co-operation deal with Hong Kong Exchanges & Clearing, sources told Metal Bulletin.

Hong Kong Exchanges & Clearing (HKEx), which bought the LME for $2.2 billion in 2012, and SGX agreed to enhance connectivity through their data centres as part of the deal announced earlier this month, they said in a joint statement on December 4.

But sources said that in exchange for the deal with HKEx, the SGX also agreed to give up rights to launch monthly futures in Asia that it acquired as part of a deal signed back in 2010 to launch...

Published

December 23, 2013

15:56 GMT

London