HKEx to launch gold futures trading
Hong Kong Exchanges and Clearing (HKEx) has announced that it is to launch trading of gold futures and options.
Pending regulatory approval, the exchange will begin the trading of cash-settled futures and options, although this is not expected to take place in the near future, HKEx chief executive Paul Chow said.
The announcement comes shortly after the Shanghai Futures Exchange began its own gold futures trading and after the Press Trust of India reported that the country's National Commodity and Derivatives Exchange is considering similar plans.
"Our market systems can support the trading of the products that are part of these [new] initiatives, so any IT-related investment will be insignificant," Mr Chow commented.
"Initiatives like these tend to have lengthy timeframes so we are taking a long-term view."
HKEx also said it is to revamp its current businesses with a focus on the environmental and carbon emissions markets.