HKMEx chairman Barry Cheung said this trading debut marks a historical milestone while creating a liquid and vibrant international commodities exchange based in Hong Kong, linking China with the rest of Asia and the world.
The exchange began trading with 18 members, including some of the world’s major financial institutions and trading firms as well as several well-established Hong Kong brokerages.
HKMEx said it will offer market participants, through its member firms, an electronic platform to trade commodities.
The first product to be traded at the HKMEx is a 32-troy-ounce gold futures contract offered in US dollars with physical delivery in Hong Kong.
The exchange was provided with trading, post-trade and surveillance technology by Cinnober.
In addition to trading and post-trade capabilities, Cinnober will also deliver the exchange’s market surveillance tool Scila Surveillance.
HKMEx has attracted shareholders from around the globe, including China’s ICBC and COSCO Group as well as Russia’s En+ Group, among others.
