HKMEx Statement on HKEx proposed Acquisition of LME
The Hong Kong Mercantile Exchange was founded on the premise that Hong Kong stands to play a significant role in bridging China’s fast growing commodity market with the rest of the world.
As part of our base metals strategy, we have already developed a renminbi-denominated copper futures contract, which is expected to be launched soon. The proposed LME acquisition by HKEx further reinforces our strategy of building linkages between international metal futures markets and China, the world’s largest consumer of these commodities.
The proposed acquisition does not in any way change our development plans. Integration of the two entities will take considerable time and the Hong Kong Mercantile Exchange, in the meantime, will roll out our products in base and precious metals as planned, as well as continue to build our membership base and deepen market liquidity.