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LME introduces gold and silver trading on July 10
By Enoch Yiu
South China Morning Post, Hong Kong
Monday, May 8, 2017
London Metal Exchange, a subsidiary of Hong Kong Exchanges and Clearing, will launch gold and silver spot and futures trading in London on July 10 in a bid to capture the increasing demand for trading of precious metals in London, the exchange said today.
The LME gold and silver product will launch at a time when HKEX is planning to introduce gold futures in the third quarter of this year should it secure approval from the Securities and Futures Commission. The trading in the two markets, however, would remain separate, and there will be no cross trading.
"The HKEX and the LME gold products would be traded in different markets and different time zone," said Kate Eded, LME head of precious metals who was speaking at a workshop in Hong Kong on Monday.
The gold and silver contracts to be launched at the LME would be traded in U.S. dollar, which will include spot trading and trading of future contracts with a maturity of up to five years. Investors could choose cash or physical settlement. Five banks including Morgan Stanley and Goldman Sachs would help quote prices to maintain liquidity of the markets. ...
... For the remainder of the report:
http://www.scmp.com/business/companies/article/2093456/lme-introduces-go...
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