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 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.
“We are delighted to be involved in HKMEx,” says Roger Liddell, chief executive of LCH.Clearnet. “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.”