Hong Kong to launch new gold futures trading platform next month
As another example of the centre of gravity for metals trading moving eastwards, Hong Kong's Mercantile Exchange is on track to launch a gold futures trading platform.
Posted: Friday , 29 Apr 2011
HONG KONG (MarketWatch) -
Hong Kong is on track to kick off a new gold-futures trading platform with settlement in the physical metal next month, marking the emergence of a second exchange in the city offering leveraged bets on the metal's rise.
The Hong Kong Mercantile Exchange, known as HKMEx, said it received regulatory clearance to launch gold-futures trading on May 18, according to a statement by the exchange Wednesday.
Debut trade will include one-kilogram gold contracts denominated in U.S. dollars.
Trading volumes in Hong Kong should keep pace with growing demand from across the border, since China lags behind only India in terms of global consumption, the spokeswoman said.
Additional trading products in the pipeline include silver futures....
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