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Hong Kong to roll out three more LME metal mini futures
November 3, 2015 / 11:58 AM / 2 years ago

Hong Kong to roll out three more LME metal mini futures

HONG KONG, Nov 3 (Reuters) - Hong Kong’s stock exchange will introduce London Nickel Mini Futures, London Tin Mini Futures and London Lead Mini Futures contracts for trading in its derivatives market in December, it said on Tuesday.

The new contracts will trade in China’s renminbi (RMB) and complement the RMB-traded London Aluminium Mini Futures, London Zinc Mini Futures and London Copper Mini Futures contracts introduced last year, Hong Kong Exchanges and Clearing Ltd said in a statement.

The trading of the three new London Metal Mini Futures in Hong Kong’s derivatives market will start on 14 December 2015, it said.

Nickel and tin will be one tonne contracts compared with six and five tonnes respectively on the London Metal Exchange. The lead contract will be five tonnes compared with 25 tonnes.

The London Metal Exchange is owned by Hong Kong Exchanges and Clearing.

The minis are aimed at Chinese retail investors, mostly wealthy individuals, who account for the majority of trading on Chinese exchanges.

The London Metal Exchange is the world’s oldest and biggest market for trading industrial metals. Its settlement prices are used as benchmarks by producers and consumers of industrial metals. (Reporting By Yimou Lee, editing by Pratima Desai and William Hardy)

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