LCH.Clearnet Set To Clear For New Asian Commodities Exchange

LCH.Clearnet is set to clear for the newly formed Hong Kong Mercantile Exchange (HKMEx), a new commodities exchange based in Hong Kong, subject to regulatory approval.

HKMEx will form a bridge between the international commodities markets and China, providing an efficient and transparent pricing platform for end users and the global trading community to trade tailor-made contracts, hedge pricing risks in China and across the region, and lower transaction costs.

HKMEx is supported by international banks and large Chinese companies, such as CITIC Group and China Resources and end users such as the Noble Group, Asia’s largest diversified commodities trading company. NASDAQ OMX are developing the trading engine.

Roger Liddell, Chief Executive, LCH.Clearnet said; “We are delighted to be involved in HKMEx. The commodities markets in China and across the region are developing fast and have huge potential. We look forward to leveraging our unparalleled expertise in this area to work towards the success of HKMEx.”