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HKEX to Launch Silver Futures

Corporate
Products
02 Jun 2020

  • Physically settled contracts denominated in USD and CNH
  • Trading and settlement fees, as well as SFC commission levy, waived for the first six months of launch

 

Hong Kong Exchanges and Clearing Limited (HKEX) is today pleased to announce the launch of Silver Futures contracts settled in US dollars (USD) and Offshore Renminbi (CNH), starting 8 June 2020, further expanding its commodities product suite.

The new Silver Futures will be physically settled in Hong Kong with its contract months covering the spot month and the following 11 calendar months. Trading and settlement fees, as well as the SFC commission levy, will be waived for the first six months of launch.

Hong Kong is the hub of physical silver trading in Asia. The launch of Silver Futures will complement HKEX’s existing metals products and provide investors and risk managers in the region with a new tool for trading, hedging and asset allocation, further strengthening Hong Kong’s status as an international financial centre.

HKEX launched its first deliverable precious metals contracts, the USD and CNH denominated gold futures, in July 2017. The launch of Silver Futures in Hong Kong also complements the precious metals products offered by the London Metal Exchange (LME), a wholly-owned subsidiary of HKEX, under its LMEprecious initiative.

Details of the new contracts, as well as enhanced incentives for participants, are available in this circular.

 

About HKEX

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 (QME), 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.

www.hkexgroup.com

 

 

Ends

Updated 02 Jun 2020