Commodity Exchanges

HKEx in deal to buy LME for HK$16.6b

Hong Kong Exchanges and Clearing has agreed to pay GBP1.39 billion (HK$16.67 billion) for the London Metal Exchange, the world's largest metals marketplace, marking the local bourse's first overseas acquisition.

Saturday, 16 June, 2012, 12:00am

Metal exchange bid makes sense

There is no more prominent symbol of Hong Kong's status as an international financial centre than its stock exchange. Hong Kong Exchanges and Clearing is the world's second-biggest bourse operator, the acknowledged premier market for mainland firms seeking to list abroad. It is a major company, a corporate success and a leading brand.

12 Jun 2012 - 12:00am

Don't raise bid for metal exchange, lawmaker says

Hong Kong Exchanges and Clearing should not increase its offer for the London Metal Exchange because that might be contrary to the interests of its investors, legislator Chim Pui-chung warned yesterday.

'HKEx's original bid was very high and should not rise further. Any overpriced deal would hurt shareholders,' the lawmaker told the South China Morning Post.

5 Jun 2012 - 12:00am

HKEx faces battle to make most of planned LME buy

Hong Kong's government has long wanted to turn the city into a leading centre for commodity trading.

Now, with the news this week that Hong Kong Exchanges and Clearing - in which the government is the largest shareholder - is one of the two remaining exchanges still bidding to acquire the London Metal Exchange, the administration is a step nearer to realising its ambition.

25 May 2012 - 12:00am

HKEx hints at plan to diversify

The Hong Kong stock exchange intends to diversify its business, with yuan-denominated products and commodities becoming crucial to its long-term expansion plans, HKEx senior management said yesterday.

9 May 2012 - 12:00am

HKEx joins London Metal's suitors

Hong Kong Exchanges and Clearing, operator of the local stock market, is among the bidders lining up to buy the London Metal Exchange as part of a plan to expand into commodities trading, according to two people familiar with the situation.

18 Feb 2012 - 12:00am

Brokers enlist support against lunch hour cut

In a last-ditch effort to defend their lunch break, brokers enlisted the support of restaurant operators and trade union members in their protest against the stock exchange yesterday.

About 1,000 banner-waving protesters gathered at the entrance of the stock exchange trading hall to oppose the bourse's plan to cut their lunch break further in March.

13 Jan 2012 - 12:00am

HKEx firm on longer trading hours

The Hong Kong stock exchange is unlikely to budge from its plan to further extend trading hours in March next year despite another round of protests from small brokers yesterday.

8 Nov 2011 - 12:00am

HKMex aims to boost China's pricing power

The Hong Kong Mercantile Exchange, which plans to launch yuan-denominated gold and silver contracts next month, will help China improve its pricing power in the international commodities market.

20 Sep 2011 - 12:00am

Yuan-denominated gold products in HKMEx pipeline

The soon-to-be launched Hong Kong Mercantile Exchange, which cost HK$500 million and took three years to establish, is to introduce yuan-denominated gold products by the end of this year after the US dollar-gold contracts start trading next week, says chairman Barry Cheung Chun-yuen.

9 May 2011 - 12:00am

HKMEx sets launch date for next month

After more than two years' delay and a change in the designated commodity of trade from oil to gold, the Hong Kong Mercantile Exchange will go into business next month, having finally received the Securities and Futures Commission's approval.

28 Apr 2011 - 12:00am

Better ways for HKEx to raise its game than 'me too' merger

Hong Kong Exchanges and Clearing is feeling left out. As exchange operators elsewhere throw themselves into a fresh merger frenzy, HKEx - the biggest stock exchange company in the world by market capitalisation - has decided that it, too, might be open to a deal.

11 Feb 2011 - 12:00am

Mercantile Exchange to start trading soon

The long-delayed opening of the Hong Kong Mercantile Exchange is expected to take place at the end of the third quarter, according to chairman Barry Cheung.

23 Jul 2010 - 12:00am

Beijing bans foreign exchanges from opening commodities stores

The mainland securities watchdog has banned foreign futures exchanges from setting up warehouses for physical delivery of contracted commodities, a big setback for Hong Kong's planned mercantile exchange.

Beijing is fearful that foreign speculators and warehouse operators will take advantage of volatility in global commodity markets and create instability, analysts say.

29 Aug 2008 - 12:00am

Central bank unit and ICAP launch money broking venture

China Foreign Exchange Trade System (CFETS), a unit controlled by the central bank, yesterday launched a money brokerage joint venture with the world's biggest interdealer broker ICAP, as part of the regulator's effort to boost transparency and develop the money market.

14 Sep 2007 - 12:00am