HONG KONG, June 25 Hong Kong Exchanges and
Clearing (HKEx) chief executive Charles Li said on
Tuesday that new commodities contracts to be introduced by the
exchange would initially be cash-settled products.
"We are going to start with cash-settled products and over
time... we will develop physically deliverable capabilities," Li
said in a speech to a conference in Hong Kong.
"Most likely the contract we will look at in Hong Kong will
be cash settled, will be monthly and will be different sizes
from the current contract," he added.
Li said earlier this year that HKEX, which bought the London
Metal Exchange (LME) last year, will use the LME's status to
extend HKEX's commodity platform into ferrous metals, such as
iron ore, coking coal and energy.
(Reporting by Melanie Burton; Editing by Richard Pullin)