HKEX Connect Hall filled up early Tuesday morning for the seventh annual LME Asia Week, the first time the signature event was held at Connect Hall. The outlook for the metals industry, prospect for LME authorised warehouses in the Greater Bay Area, and updates on the LME’s Strategic Pathway were just three of the many key topics covered during the Metals Seminar, which was held in front of 700 executives from the metals and commodities sectors.
HKEX Chairman Laura M Cha welcomed guests to a day of insightful discussions, saying HKEX’s Strategic Plan reinforces the importance of commodities to the future of both Hong Kong and HKEX. Hong Kong has long excelled as an equity market, but to be a global market leader in the Asian time zone, she said HKEX must broaden its appeal and build its capability in new asset classes. The acquisition of the London Metal Exchange (LME) in 2012 and launch of the Qianhai Mercantile Exchange (QME) last year are important steps in that direction, Cha said.
HKEX Chief Executive Charles Li summarised HKEX's vision for commodities during his keynote speech, saying the Company has a "BBC" strategy: "Buy One, Build One, Connect", referring to the acquisition of the LME, the launch of QME in Mainland China, and planned connectivity schemes that include warehouses in the Greater Bay Area and potential cooperation with Mainland exchanges.
“Building on the LME’s capabilities and experience, we are collaborating with China to replicate the success of the LME with the launch of QME in the Mainland. The next step will be connecting the dots across the different trading platforms,” Li said.
LME Chief Executive Matthew Chamberlain re-affirmed the LME’s commitment to its strategic pathway, HKEX’s Strategic Plan and responsible industry stewardship in his keynote speech. Chamberlain added that HKEX is set to launch dollar-denominated mini contracts for six base metals in the coming months.
Four compelling panel discussions were also held, where speakers discussed hot topics such as RMB commodity trading in China and the outlook for the metals market.
The seventh annual LME Asia Week is in the books! We welcomed more than 2,000 metals professionals and media from around the world, making it one of the largest LME Asia Week events ever. The Metals Seminar was a highlight once again, but there were a number of panel discussions and speeches that stood out, along with the annual LME Asia Gala Dinner. Here’s a look at LME Asia Week 2019 in pictures.
6 May (Monday)
LME Asia Pacific Lunch
We had a great start of the week as we welcomed nearly 150 market representatives to our annual LME Asia-Pacific Lunch, a networking event focused on the Asia-Pacific region. Attendees had a chance to meet with representatives from the LME London and Singapore offices, who shared updates on the LME’s new products and initiatives, including the seven new cash-settled contracts that were launched in March this year.
Briefing – HKEX Commodities Business Strategic Plan
About 60 senior executives attended this briefing session, where we elaborated on HKEX’s and LME’s commodities strategies and our latest Strategic Plan.
HKEX Chairman Laura M Cha hosted a cocktail reception at HKEX Connect Hall to welcome industry participants from all over the world to LME Asia Week 2019. Hong Kong Securities and Futures Commission Chairman Tim Lui, together with around 350 industry experts, joined us for the evening.
7 May (Tuesday)
LME Asia Metals Seminar
The LME Asia Metals Seminar, a signature event, brought together more than 700 industry players to HKEX Connect Hall. Participants had an insightful day of discussions and debates centered around the market development of base and precious metals, internationalisation of metals prices in China, and development of exchange platforms.
LME Asia Dinner
An impressive 1,900 guests joined the LME Asia Week Gala Dinner in Hong Kong, the biggest black-tie industry dinner since 2013.
9 May (Thursday)
LME Professional Training Course – Introduction to LME
After a day of discussions on the outlook of the metals and commodities sectors, our distinguished guests donned their tuxes and evening gowns to enjoy the glittering evening. Senior executives from HKEX and LME made a toast to the success of the seventh LME Asia Week.
LME Asia Week ended with a professional training course to help participants understand LME’s trading process and demonstrate how LME’s services can help improve price risk management.