HKEX Expands LME Trading In Asian Time Zone
Hong Kong Exchanges and Clearing Limited (HKEX) announced today (Monday) the introduction of six US dollar-denominated London Metal mini futures contracts – aluminium, 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 RMB futures products.
“The launch of the USD London Metal Minis is part of our strategic ongoing commitment to expand London Metal Exchange (LME) 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 (QME) and LME in order to fully capture the potential upside of China’s internationalisation.”
In order to encourage participation from LME members and their clients with the launch of the new USD London Metal Mini Futures, Hong Kong Futures Exchange Limited (HKFE) is also pleased to announce the reintroduction of a reciprocal membership arrangement (RMA) in conjunction with LME. Under this reciprocal arrangement, the LME and HKFE will waive their respective first year’s annual subscription and application processing fees for new applicants who already hold a membership or participantship at either one of the Exchanges.
The reintroduction of RMA is aligned with HKEX’s strategy for developing its commodities business, including the launch of USD Minis and other commodities products that may have synergies with the LME products.
Source: Hong Kong Exchanges and Clearing Limited
Institutional interest in digital assets is increasing.
Closing auction is one of most important daily liquidity and price formation events in European equities.
Three trading days in June landed within the top five trading days on record.
FESE said the length of the current trading day reflects investors’ needs.
Cboe Europe Derivatives is due to launch in the first half of 2021.