Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce that it has signed a Memorandum of Understanding (MOU) with Chinese metals market data provider SMM Information & Technology Co., Ltd. (SMM) on Wednesday during LME Week in London, to establish a strategic partnership in the commodities business. The MOU also seeks to promote mutual business development in the financial and commodities markets, with the aim of raising the international influence of Mainland China’s commodities prices.
The MOU was signed by Dennis Zhang, HKEX Head of Commodities Development, and Kelly Ma, SMM Managing Director. HKEX Chief Executive Charles Li, HKEX Head of Market Development Li Gang, SMM CEO Adam Fan, and SMM Singapore General Manager Ian Roper, witnessed the signing.
Other senior executives from HKEX and SMM also attended the signing ceremony.
Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.
HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited. This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange, in China, in 2018.
HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.