Market Turnover


HKEx Plans to Introduce More Asia Commodities Contracts

12 Oct 2015

Hong Kong Exchanges and Clearing Limited (HKEx) plans to introduce its second group of London Metal Mini Futures contracts – London Nickel Mini Futures, London Tin Mini Futures and London Lead Mini Futures, pending regulatory approval and market readiness.  A timetable will be announced in due course.

The addition of the three Renminbi-denominated mini metals contracts will expand the range of commodities products HKEx offers, broaden its base of potential market participants and provide more arbitrage opportunities.  HKEx introduced its first London Metal Mini Futures contracts – London Aluminium Mini Futures, London Copper Mini Futures and London Zinc Mini Futures – in December 2014.

"Our strategy is to use our markets in Hong Kong and London to meet the needs of base metals users, producers and investors in different time zones," said HKEx Chief Executive Charles Li.  "These new Renminbi-denominated contracts will provide additional hedging and risk management tools and create more arbitrage opportunities."

"Three new London Metal Mini Futures in Hong Kong will give Asia's market participants even greater access to the LME's highly respected global reference prices," said Garry Jones, HKEx's Co-head of Global Markets and Chief Executive of the London Metal Exchange (LME).

Contract details

The three new mini metals contracts will be traded on Hong Kong Futures Exchange Limited (HKFE) and cleared through HKFE Clearing Corporation Limited. The trading hours of the cash-settled futures contracts will be 9:00 am to 4:15 pm and 5:00 pm to 1:00 am the next morning Hong Kong time Monday to Friday, excluding the public holidays on HKEx's trading calendar.  Pre-holiday arrangements will be the same as those for the other contracts traded on the HKFE.  Key contract specifications are shown in the table below.

Key Contract Specifications

London Nickel Mini Futures London Tin Mini Futures London Lead Mini Futures
Underlying Primary Nickel
as defined in the LME rules
from time to time
as defined in the LME rules from time to time
Standard Lead
as defined in the LME rules from time to time
Trading Symbol LRN LRS LRP
Contract Size 1 tonne / contract 1 tonne / contract 5 tonnes / contract
Trading Currency Renminbi, or RMB
Contract Months Spot Month and next 11 calendar months
Minimum Fluctuation
/Tick Size
RMB10 / tonne RMB5 / tonne
Trading Hours
(Hong Kong Time)
Day Trading Session: 9:00 am - 4:15 pm;
After-hours Trading Session: 5:00 pm - 1:00 am
Last Trading Day (LTD) The LTD determined by the LME for its Nickel/Tin/Lead Futures (usually two business days before the third Wednesday of the Spot Month).  If it is not a Hong Kong business day, the LTD shall be the immediately preceding Hong Kong business day.
Final Settlement Price (FSP) The FSP shall be a whole number, determined by the Clearing House, and shall be the Official Settlement Price determined and published by the LME for its Nickel/Tin/Lead Futures and converted to RMB equivalent using the spot USD/RMB pricing published by the Treasury Markets Association in Hong Kong at 11:15 am Hong Kong time on the LTD.
Settlement Type Cash-settled
Holiday Schedule HKEx holiday schedule
Exchange Fee
(per contract per side)
Calendar Spreads Cover Spot Month and the next 11 calendar months

Note: London Metal Exchange, Hong Kong Futures Exchange Limited and HKFE Clearing Corporation Limited are wholly-owned member companies of the HKEx Group.


Updated 12 Oct 2015