LME to launch HK-based commodities contracts

London

THE London Metal Exchange (LME) has said that it plans to launch Hong Kong-based commodities contracts in order to seize opportunities from the upcoming Shanghai-Hong Kong Stock Connect scheme, which offers a seamless inter-investment channel between the two cities' exchanges.

The bourse, now owned by Hong Kong Exchanges and Clearing Ltd (HKEx), is also expecting to push forward its offshore business in renminbi (RMB), China's currency.