HKEx targets trading in commodities
Source: Agencies |
January 20, 2012, Friday
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Print Edition
Print Edition
HONG Kong Exchanges and Clearing Ltd, among the world's largest bourse operators, said yesterday it planned to ramp up spending to upgrade infrastructure in the commodities space and confirmed its commitment to deeper ties with its Chinese mainland peers.
HKEx said capital expenditure this year would be about HK$2 billion (US$258 million), although it later clarified that this would be spread over a number of years, expanding into areas like commodities and fixed income.
"We are coming to a moment when China will become so international, but are frustrated that they cannot manage the commodities sector on their terms," HKEx Chief Executive Charles Li said in Hong Kong.
"If we can tap into this, we can grow into it."
He reiterated plans to set up a joint venture with the Shanghai and Shenzhen bourses this year for trading futures products with underlyling assets on the mainland.
The move would represent the first concrete link between the three exchanges focused on China's vast economy.
HKEx said capital expenditure this year would be about HK$2 billion (US$258 million), although it later clarified that this would be spread over a number of years, expanding into areas like commodities and fixed income.
"We are coming to a moment when China will become so international, but are frustrated that they cannot manage the commodities sector on their terms," HKEx Chief Executive Charles Li said in Hong Kong.
"If we can tap into this, we can grow into it."
He reiterated plans to set up a joint venture with the Shanghai and Shenzhen bourses this year for trading futures products with underlyling assets on the mainland.
The move would represent the first concrete link between the three exchanges focused on China's vast economy.
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