HKEx to launch its first Asia Commodities Contracts for trading on December 1

HONG KONG – The Hong Kong Stock Exchange is to introduce its first Asia Commodities contracts – London Aluminium Mini Futures, London Zinc Mini Futures and London Copper Mini Futures – for trading on Monday, December 1, subject to market readiness. The three mini metals contracts will trade in RMB.

HKEx has postponed introduction of its US-dollar traded API 8 Thermal Coal Futures to focus on the launch of the mini metals contracts, but says it remains committed to the coal contract and will announce its rollout date later.

"This is another big step in our commodities strategy following our launch of self-clearing at the London Metal Exchange (LME) last month and our announcement of new LME fees, starting  January 1,2015, to support our ongoing investment in the LME," said HKEx Chief Executive Charles Li.

"The new contracts will provide currency convenience,  expand our range of RMB products, and  further strengthen Hong Kong's position as the leading offshore RMB centre."

Romnesh Lamba, HKEx’s Co-head of Global Markets, describes the new contracts as part of HKEx’s fixed income, currency and commodities strategy in Asia and its efforts to expand Hong Kong markets into new asset classes.  www.hkex.com.hk (ATI).