London Metal Exchange officials aim to attract Japanese traders

London Metal Exchange chief executive Garry Jones will on Wednesday lead a delegation to meet traders and metal users in Japan to promote its products, marking its latest effort to expand in Asia and before its launch of new commodity products later this year.

Japanese brokers showed interest in the full-day event to be held at a hotel in Tokyo that will include discussions on the latest metal trading trends and the plans of the LME, which was bought in December 2012 by Hong Kong Exchanges and Clearing.

"The message of this event is clear to all Japanese participants. Such an occasion definitely helps people in Japan pay more attention and arouse their interest in the LME and the HKEx in their commodity products and services," Makoto Sugitani, head of sales of commodity brokers Newedge Japan, told the South China Morning Post.

Yasuo Mogi, chairman of Tokyo-based Nissan Century Securities, said Japanese like to use LME markets for risk management purposes.

"I personally expect growing interest by financial institutions in commodity space as an investment asset class and its markets, including LME, as a place of financial risk managements," Mogi said.

An LME spokeswoman said: "This is the first LME event to take place in recent years in Japan and we are very much looking forward to engaging with our existing clients as well as meet new participants interested in the LME's products and services."