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HKEX Welcomes First Listing of Commodity L&I Product in Hong Kong Market

Products
05 Jun 2020

  • First commodity L&I Product listed in Hong Kong
  • Complements HKEX’s existing gold ETFs and further enriches product diversity

 

Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to welcome today (Friday) the first listing of a commodity Leveraged and Inverse Product (L&I Product) in the Hong Kong market – CSOP Gold Futures Daily (2x) Leveraged Product (stock code: 7299).

The launch of the gold futures Leveraged Product complements HKEX’s existing gold Exchange Traded Funds (ETFs) and provide investors with an additional tool to gain leveraged exposure to gold as an investment asset. The listing also comes at a time when trading and hedging demand for gold increased – in the first five months of 2020, the average daily turnover (ADT) of Hong Kong-listed gold ETFs increased to $100 million from $18 million for the same period last year.

HKEX’s Head of Exchange Traded Products Brian Roberts said: “The introduction of the first gold futures Leveraged Product provides investors the ability to express a short-term market view on gold prices.  Today’s listing further enriches the product diversity of Hong Kong’s ETP market.”

In the first five months of this year, the ADT of Exchange Traded Products (ETPs), including ETFs and L&I Products, rose to $7.3 billion from $6.6 billion in the same period last year.  L&I Products gained strong momentum year to date, with total turnover rising to $46 billion in May from $16.5 billion in January, and with one-day turnover reaching a record high of $5.17 billion on 22 May.

Further information about Hong Kong-listed ETPs is available in HKEX’s website.

Updated 05 Jun 2020