Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce the launch of US dollar-denominated London Metal Mini Futures for six base metals, starting 5 August 2019.
The new monthly cash settled contracts will complement the existing London Metal Mini Futures that are denominated in the offshore RMB, or CNH. The contracts will be available with aluminium, zinc, copper, nickel, tin, and lead. The CNH contracts will be renamed as CNH London Metal Mini Futures upon the launch of the US dollar products.
"The new London Metal Mini Futures will provide trading opportunities for investors that have exposure in US dollar-denominated base metals in the Asian time zone and complement our existing RMB-denominated futures product," said Dennis Zhang, HKEX's Head of Commodities Development.
The launch of the USD London Metal Mini Futures will build on the branding, membership network, and benchmark pricing in base metals of the London Metal Exchange (LME), a wholly-owned subsidiary of HKEX.
Details of the new contracts, as well as enhanced incentives for participants, are available in this circular.
Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.
HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited. This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange, in China, in 2018.
HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.