Hong Kong Exchanges and Clearing Limited (HKEX) has introduced its Qianhai commodities platform, which will help the group compete with other global exchanges, simultaneously servicing a clientele in Mainland China, according to an HKEX statement.
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Hong Kong Exchanges and Clearing Limited (HKEX) has introduced its Qianhai commodities platform, which will help the group compete with other global exchanges, simultaneously servicing a clientele in Mainland China, according to an HKEX statement.
The launch follows after last month’s Memorandum of Understanding (MoU) between HKEX and the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, which ushered into being the Qianhai commodities platform. The platform itself is positioned for a launch date in 2017, somewhere in Q2-Q3 and will offer spot trading with physical delivery.
New Leadership
In tandem with the launch, HKEX has secured the services of Guo Xiaoli as its Chief Executive of its Qianhai commodity-Trading Platform . Mr. Guo steps into the role with almost three decades of experience in trading and management expertise across Mainland and international commodities.
Prior to the appointment, he served as the General Manager at the Zhengzhou Commodity Exchange (ZCE), Deputy General Manager at the Dalian Commodity Exchange and Vice Chairman of the China Futures Association, among other senior roles.
According to HKEXs’ Chief Executive Charles Li, in a recent statement on the appointment, "Mr Guo is an expert on the Mainland futures market from theory to practice and he brings a wealth of experience to our Qianhai venture. Our plan is to use the LME's successful model to create an effective spot trading platform in the Mainland’s commodities market to serve the needs of the real economy.”
“In time, the platform could generate a series of truly representative and globally-influential 'China price' benchmarks,” he explained.
