Li Xiaojia: LME plans to launch small futures contracts in Hong Kong-Shanghai Metals Market

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Li Xiaojia: LME plans to launch small futures contracts in Hong Kong

Translation 08:59:19PM May 07, 2019 Source:Securities Times

SMM News: on May 7, the Hong Kong Stock Exchange held the 2019LME Asia Annual meeting in Central Exchange Square. Li Xiaojia said at the meeting that with the help of the development of the Greater Bay area, the Hong Kong Stock Exchange needs different connections in terms of commodity links. First of all, the Hong Kong Stock Connect in London and Hong Kong, LME has to launch LME small futures contracts in Hong Kong, which will be settled in cash. The second is the current pass, we bought the London Metal Exchange in 2012, but that's not enough. We have to set up our own commodity trading center, so we have to set up the former Sea Exchange (QME), QME from millions of goods. To ensure spot trading, there is pricing power for key metals, these spot pricing can be used as a standard, and then turn these spot prices into futures, which we call current pass.

Third, futures pass. We hope to establish links with the Shanghai, Dalian, and Zhengzhou Commodity Futures exchanges. We hope to have a pool of flowing funds that will allow people to enter commodity exchanges directly, and we can also do a northbound exchange. If investors are allowed to trade through Hong Kong, the risks can be managed in Hong Kong, and liquidation can also be done in the clearing house of the Hong Kong Stock Exchange. Any relationship needs to take the first step. Maybe they are shy and not very willing. But I believe that in the long run, they will accept us, and the day is getting closer and closer.

He pointed out: at present, the HKEx is making great strides to transform itself into an all-round diversified exchange, and to ensure that every step can be carried out correctly, from a commodity breakthrough to the currency and fixed income business, it is bound to bring a large amount of RMB. So as to promote the development of monetary products.

Key Words:  Futures  mining  capacity  LME 

Li Xiaojia: LME plans to launch small futures contracts in Hong Kong

Translation 08:59:19PM May 07, 2019 Source:Securities Times

SMM News: on May 7, the Hong Kong Stock Exchange held the 2019LME Asia Annual meeting in Central Exchange Square. Li Xiaojia said at the meeting that with the help of the development of the Greater Bay area, the Hong Kong Stock Exchange needs different connections in terms of commodity links. First of all, the Hong Kong Stock Connect in London and Hong Kong, LME has to launch LME small futures contracts in Hong Kong, which will be settled in cash. The second is the current pass, we bought the London Metal Exchange in 2012, but that's not enough. We have to set up our own commodity trading center, so we have to set up the former Sea Exchange (QME), QME from millions of goods. To ensure spot trading, there is pricing power for key metals, these spot pricing can be used as a standard, and then turn these spot prices into futures, which we call current pass.

Third, futures pass. We hope to establish links with the Shanghai, Dalian, and Zhengzhou Commodity Futures exchanges. We hope to have a pool of flowing funds that will allow people to enter commodity exchanges directly, and we can also do a northbound exchange. If investors are allowed to trade through Hong Kong, the risks can be managed in Hong Kong, and liquidation can also be done in the clearing house of the Hong Kong Stock Exchange. Any relationship needs to take the first step. Maybe they are shy and not very willing. But I believe that in the long run, they will accept us, and the day is getting closer and closer.

He pointed out: at present, the HKEx is making great strides to transform itself into an all-round diversified exchange, and to ensure that every step can be carried out correctly, from a commodity breakthrough to the currency and fixed income business, it is bound to bring a large amount of RMB. So as to promote the development of monetary products.

Key Words:  Futures  mining  capacity  LME