Hong Kong Mercantile Exchange wins SFC approval

Gold futures are set to start trading in Hong Kong next month after a two-year delay.
Barry Cheung, HKMEx chairman
Barry Cheung, HKMEx chairman

More than two years after it was first promised, the Hong Kong Mercantile Exchange HKMEx is finally set to start trading after winning authorisation from the SFC yesterday. The first gold futures contracts will change hands on May 18, 2011.

The authorisation gives HKMEx approval to set up as an automated trading services provider through 16 broker members. We are very excited about this historic day, said Barry Cheung, the exchange's chairman, in a prepared statement. It allows us to establish a liquid and vibrant international commodities exchange based in Hong Kong, linking China with the rest of Asia and the world.

This is important because it will give...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222