Hong Kong Exchanges and Clearing Limited (HKEx) and the London Metal Exchange (LME), a member of the HKEx Group, hosted a seminar in Tokyo today (Wednesday) to update participants on the LME's markets. The theme of the seminar was the metals marketplace.
The event included a speech by HKEx's Global Markets Co-head and LME Chief Executive Garry Jones on the evolution of the LME, as well as three panel discussions. There were also speeches by Tatsuya Terazawa, a Director-General of the Ministry of Economy, Trade and Industry of Japan (METI), and Takamichi Hamada, Executive Vice President and Chief Operating Officer of the Tokyo Commodity Exchange (TOCOM). Key topics discussed included issues critical to the LME's markets such as financial investors in a wholesale market and influence of other markets on a regional metals market.
About 190 guests representing over 70 companies attended the seminar.
"Japan's economy is the world's third largest and Japanese investors have been key participants in the LME market for decades," said Mr Jones. "We were delighted to see so many of our stakeholders today and to meet potential business partners. We would like to keep users informed of our products and services and how trading on the LME can benefit their businesses. We welcomed this opportunity to hear more from the industry so we can continue to improve and better serve the community."
"Since LME became part of the HKEx Group, the exchange has been working closely with HKEx, led by its Asia Commodities Department, to build and expand its relationships in Asia," Mr Jones added.
The supporting organisations for the event were METI and TOCOM. For further details of today's seminar, please see LME Tokyo Seminar: the Metals Marketplace.
About HKEx
HKEx is one of the world's largest exchange operators by market capitalisation. It runs Hong Kong's securities and derivatives markets, is the frontline regulator of companies listed in Hong Kong, and provides clearing and settlement services for exchange-traded and over-the-counter products through its clearing houses. It is also an equal joint-venture partner with the Shanghai and Shenzhen stock exchanges in China Exchanges Services Company, which develops cross-border indices based on products traded on the three markets.
About the London Metal Exchange
The London Metal Exchange, a member of HKEx Group, is the world centre for industrial metals trading.
More than 80 per cent of global non-ferrous metals business is conducted on the exchange's three trading platforms: LMEselect (electronic), the Ring (open outcry) and the 24-hour telephone market. The world’s metal community uses the LME to trade futures, options, and the exchange’s latest contract, LMEswaps, to hedge against adverse price movements –prices which are discovered on LME’s markets and used as the global benchmark.
Participants can trade aluminium, copper, tin, nickel, zinc, lead, molybdenum, cobalt, steel billet and two regional aluminium alloy contracts. In 2013, 171.1 million lots were traded on the LME, the equivalent of 4.0 billion tonnes and US$14.6 trillion in notional value.
At the close of the year, 7.4 million tonnes of material was held on LME warrant in 732 storage facilities across 37 locations internationally.
For further information, please visit www.hkexgroup.com.
HKEx's Co-head of Global Markets and LME Chief Executive Garry Jones talks about the evolution of the LME.
LME Tokyo Seminar participants listen to a panel discussion.
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