HKMEx Trading Volumes for June 2011
The Hong Kong Mercantile Exchange (“HKMEx”), China’s international commodities marketplace, today announces that in June, a total of 48,231 US-dollar gold futures contracts were traded on the Exchange, representing a notional value of US$2.36 billion. Average daily volume during the month stood at 2,297 contracts. As of the end of June, open interest on gold futures stood at 4,804 contracts.
“We’re off to a very good start,” said Barry Cheung, Chairman of HKMEx. “In the coming weeks and months, we will continue to bring on board new exchange members and introduce new products tailored to their specific needs. This will help to drive stronger trading volumes and contribute to the continual development of a healthy and vibrant commodity market in Hong Kong.”
HKMEx trades a 32 troy ounces gold futures contract with physical delivery in Hong Kong. The delivery unit is 1 kilogram (32.151 troy ounces), of no less than 0.995 fineness. Contract months are the current calendar month, the next two consecutive calendar months, and any even months falling within a 12-month period starting with the current month.