January 15, 2013 / 9:12 AM / 5 years ago

Hong Kong stock exchange to introduce Asian trading on LME

LONDON, Jan 15 (Reuters) - Hong Kong Exchanges and Clearing said on Tuesday it will introduce Asian time-zone price discovery and clearing on the London Metal Exchange.

The move was unveiled in the exchange’s 2013-15 strategic plan, along with plans to establish an LME-licensed warehouse network in China, the potential to extend the LME’s production suite into the Hong Kong market.

Introducing a third, earlier, round of trading sessions is the biggest shift in the way the 135-year old LME operates since the launch of its electronic platform over a decade ago, and would run counter to the global industry trend toward shutting down trading pits in favor of faster, cheaper electronic platforms.

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