HKEx launches US dollar metals futures contracts

Business | 5 Aug 2019 7:23 pm

Hong Kong Exchanges and Clearing (0388) announced the introduction of six US dollar-denominated London Metal mini futures contracts – aluminum, zinc, copper, nickel, tin, and lead.

These will provide additional options for investors with exposure to base metals denominated in US dollars in the Asian time zone and complement HKEx’s existing yuan futures products, the bourse operator said.

“The launch of the US dollar London Metal Minis is part of our strategic ongoing commitment to expand London Metal Exchange trading in the Asian time zone,” said Dennis Zhang, HKEx's head of commodities development. “We look forward to exploring extending the connectivity with Qianhai Mercantile Exchange and LME to fully capture the potential upside of China’s internationalization.”

Meanwhile, the Hong Kong Futures Exchange announced the reintroduction of a reciprocal membership arrangement together with LME. The LME and HKFE will waive respective first year annual subscription and application processing fees for new applicants who already hold a membership or participantship at either one of the exchanges.

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