HKEx Dropping Gold Futures
by Mary Swire, Lowtax.net, Hong Kong
16 March, 2015
In view of a change in the London gold pricing mechanism effective from March 20, 2015, Hong Kong Futures Exchange Limited, a wholly owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), suspended trading of its gold futures after the market closed on March 13.
The decision was made after the London Bullion Market Association announced it was to replace the London Gold Fix with a new, more transparent electronic price-discovery process.
HKEx is to review its precious metals strategy at group level. It may add redesigned gold futures contracts to the HKEx Group's product list in the future.
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