* HKEX looking at mutual listings with China exchanges-Li
* HKEX eyes expansion into agricultural, soft commodities-Li
* Considering removing London presence as prerequisite for
SINGAPORE, May 27 Hong Kong Exchanges and
Clearing is considering joint listings of commodities
products on mainland Chinese bourses to capitalise on last
year's acquisition of the London Metal Exchange, Chief Executive
Charles Li said on Monday.
"This is about developing mutual product listing/licensing
arrangements and forming strategic partnerships with leading
exchanges," said Li in a blog post outlining developments for
the exchange's commodities business.
"Mainland China institutions would be key partners for us
given the sheer size of the mainland market and the mainland's
need to internationalise. These partnerships would ultimately
take us beyond metals and into other commodities," he added.
HKEX, the world's No.2 exchange operator by market value,
paid $2.2 billion for the LME last year, as it seeks to expand
beyond its traditional business in equities trading.
"We would also like to extend eventually to soft commodities
and agriculture as opportunity permits," said Li in the blog.
Li said earlier this year that the exchange will use the
LME's status as the world's biggest metals marketplace to extend
HKEX's commodity platform into ferrous metals, such as iron ore,
coking coal and energy.
One key sticking point in the exchange's drive to boost
Asian membership has been its prequisite for members to have a
London presence. The exchange is reviewing this rule, Li said.
(Reporting by Melanie Burton, editing by William Hardy)