Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Monday) the launch of Commodity Pricing and Analysis Limited (CPAL), a new HKEX subsidiary based in Dubai, the United Arab Emirates.
CPAL will operate as a commodities pricing administrator, providing independent price reporting and market analysis dedicated to the global metals market, including the support of the London Metal Exchange’s development of sustainable metal premia that was announced in April 2025. The establishment of this new subsidiary also underscores the Group’s ambitions in expanding its commodities business in this strategically important region, helping to drive greater connectivity between China and fast-growing markets in the Middle East.
In recent years, Dubai has positioned itself as a major global commodities trading hub. Last year, the UAE ranked second globally – after the U.S. – in the Commodity Trade Index1, which assesses the role of the top commodities trading hubs within global trade, and considers indicators including commodity wealth, logistics infrastructure, and institutional strength. Dubai is also ranked first in the latest Global Financial Centres Index2 for the Middle East and Africa region and 11th globally.
HKEX Chief Executive Officer, Bonnie Y Chan, said: “The launch of CPAL in Dubai marks an exciting milestone for HKEX Group as we expand our global footprint. The Middle East is a region of growing significance for the commodities market, and our presence there will allow us to better serve international stakeholders, deliver trusted pricing and analysis, and accelerate the development of sustainable metal markets. This initiative reflects our long-term commitment to building a world-class commodities business, led by the London Metal Exchange, and continuing our stakeholder engagement in this part of the world.”
The LME has today announced the next steps in its plans to develop sustainable metal premium pricing for LME-approved brands, which include the publication of a discussion paper on its proposed pricing methodology. CPAL will serve as the pricing administrator for the sustainable metal premia. The LME is a wholly owned subsidiary of HKEX.
Notes:
- The Commodity Trade Index is produced by the DMMC and has been published biennially since 2018.
- The Global Financial Centres Index (GFCI) 38 was published on 25 September 2025 and evaluates future competitiveness and rankings for 120 global financial centres. It is produced by the China Development Institute (CDI) and Z/Yen Partners.
