The bourse is focusing on launching physically-delivered base metals through the spot trading platform and will quickly extend into ferrous, energy, rubber and other commodities, he said.
The initial plans include aluminium, copper and steel rebar on this central marketplace for commodities.
Various types of tradeable warehouse receipts will be available on this mainland commodities platform. Detailed specifications of underlying metal and other commodities are not immediately available
“We start with base metals and we start with physically-settled, but probably will quickly extend into other areas of ferrous, energy and even rubber,” Li added.
Charles Li, ceo of HKEX, spoke to Metal Bulletin.
The other services that the platform could offer “are not necessarily physically-settled, but it could be purely trading services, or provide listing services: you just provide a venue for people to list their prices and as long as they are good prices and they are prices...