Set up in 1877 to provide a venue for trade conducted among metal merchants in London, the LME was sold in 2012 to the operator of the Hong Kong stock exchange. In 2013, it was a defendant in lawsuits accusing Goldman Sachs, JP Morgan and Glencore-Xstrata of rigging the aluminium market.
Hong Kong Exchanges and Clearing's plan to introduce the Hong Kong version of the London Metal Exchange platform this year is a baby step to kick off the local commodities market, but brokers and observers warned there will be challenges in developing the new market.Monday, 10 March, 2014, 5:59am 1 comment
A series of public and private meetings between the London Metal Exchange and its staunchest critics in the United States has revealed a small but significant shift in a years-long crisis over the exchange's warehousing policy, sources said.3 Mar 2014 - 2:59am
Hong Kong Exchanges and Clearing's board will meet in London today to map out future strategies for the London Metal Exchange after coming under intense criticism for failing to promote commodities trading in Hong Kong.9 Oct 2013 - 5:15am 1 comment
The world’s two biggest aluminium producers are calling on the London Metal Exchange (LME) to boost transparency by releasing more detailed data on long and short positions as well as about who are holding inventories.13 Sep 2013 - 5:18am
London Metal Exchange's newly appointed chief executive Garry Jones said he would focus on expansion in the mainland and would launch new products beyond metal futures trading.28 Aug 2013 - 3:32am
Commodities brokers and buyers say Hong Kong does not yet have the trading infrastructure to be a major commodities centre. That may change in the future as traders seek to take advantage of growing demand for commodities from the mainland.26 Jun 2013 - 5:04am
Hong Kong Exchanges and Clearing chief executive Charles Li Xiaojia tried to assure members of the London Metal Exchange and mainlanders yesterday that HKEx's plans to expand into commodities would not be a threat to them.26 Jun 2013 - 4:20am
Mainland commodity exchanges are looking to co-operate with Hong Kong Exchanges and Clearing in developing the trading of new commodities and cross-listing their products.26 Jun 2013 - 5:17am
The replacement being sought for the outgoing London Metal Exchange (LME) chief executive Martin Abbott does not need to be a China expert, say sources at Hong Kong Exchanges and Clearing.
Abbott resigned last week and will leave at the end of this year, and an HKEx source said the bourse has appointed headhunting firm Spencer Stuart to conduct a search for a successor.17 Jun 2013 - 5:51am
Hong Kong Exchanges and Clearing, the operator of the local stock and futures markets, will begin a push this year to establish a commodities trading platform and clearing facility in the city as part of a three-year plan to diversify its income.16 Jan 2013 - 3:41am