Gold News

HKEx 'looking to gold electronic trading'

Those investing in gold in Hong Kong might be interested to read that electronic trading may soon become a reality in the region.

According to the South China Morning Post, Hong Kong Exchanges and Clearing (HKEx) and the main gold exchange in the city have agreed to launch electronic gold trading during the first six months of 2008.

MarketWatch reports that the newspaper says the deal covers the buying and selling of London gold bullion and futures, with trading hours being extended to 19 hours a day.

The news comes as the ongoing popularity of gold investment prompts exchanges around the world to take advantage of rising trade.

Gold futures trading was officially launched in Shanghai last month, while the Financial Times recently reported that Financial Technologies is mulling over plans to open a commodity exchange in Singapore to cater for the trading of gold and other precious metals.

HKEx president William Lee remarked: "We hope this is the first step of cooperation between the two.

"In the next stage, we could consider if there is any chance for us to merge."

Want to Buy Gold but unsure how to do it? For dealing spreads of $3 per ounce - plus secure, professional storage in Zurich, Switzerland for just 0.12% per year - click through to BullionVault now...


See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals