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HKEx head says to develop futures trading for mainland commodity platform

Published 11/05/2017, 05:34
Updated 11/05/2017, 05:40
© Reuters. Hong Kong Exchanges and Clearing Ltd Chief Executive Charles Li looks on before an event celebrating the 16th anniversary of HKEX in Hong Kong
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QIANHAI, China (Reuters) - The head of Hong Kong Exchanges and Clearing (HKEx) (HK:0388) said the bourse's upcoming commodity platform in mainland China would eventually offer trading in futures contracts

"Our strategy is to (first) develop the physical market. Without laying a solid foundation in the physical market, you cannot build a good futures market," HKEx Chief Executive Officer Charles Li said on Thursday.

© Reuters. Hong Kong Exchanges and Clearing Ltd Chief Executive Charles Li looks on before an event celebrating the 16th anniversary of HKEX in Hong Kong

He made the comment on a visit to the site of the upcoming platform in Qianhai, just 50 km (30 miles) from Hong Kong, where it hopes to replicate the LME's success. It remains unclear when the platform will start operating.

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