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Commodities Briefing - Categorized | Commodities Exchanges, Currencies, Trading more

Takeover of LME to help promote yuan trading

Posted on 09 August 2012

The acquisition of the London Metal Exchange will be a breakthrough in further promoting yuan internationalization and tapping the business potential of the mainland commodity derivatives’ sector, the Hong Kong Exchanges & Clearing Ltd said.
HKEx, the world’s second-largest bourse by market value, successfully bid in June for the LME by agreeing to pay HK$16.67 billion ($2.14 billion) to LME shareholders. The acquisition deal is being reviewed by UK financial regulatory bodies and is expected to be completed by the fourth quarter of 2012………………………………………..Full Article: Source


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