| Owner of LME will keep new platform tied to physical metals after excesses in futures trading. The owner of the London Metal Exchange aims to target Chinese commodity traders concerned by speculative excesses on the country’s domestic bourses, with plans to establish a physical metals trading platform in mainland China next year.
Charles Li, chief executive of Hong Kong Exchanges and Clearing, which bought the LME in 2012, said its planned exchange in Qianhai would make sure prices remained tied to the underlying economy by underpinning it with an LME-style warehouse system for the physical delivery of metal...............................................Full Article: Source
|