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Screenshot of a breaking news alert e-mail from Q2 2017
Hong Kong Exchanges and Clearing Limited (HKEX) announced that it will introduce its cash-settled TSI Iron Ore Fines 62 per cent Fe CFR China Futures (Iron Ore Futures), its first ferrous metal product, on Monday, 13 November 2017.
As a leading international financial and trade centre, Hong Kong provides one-stop solutions to enterprises for trading, financing, asset management and price risk management. Price risk management is an indispensable capability and an area of growing need for Hong Kong. To meet this need, HKEX announced plans for the Iron Ore Futures late last month.
The new contract will complement HKEX’s existing precious and base metals products and provide investors and risk managers with a new tool for trading, hedging and asset allocation. As an exchange-traded product, Iron Ore Futures will provide maximum price transparency and equal access to all market participants. By improving the price discovery process in the iron ore derivatives market, the contract has the potential to lower the cost of trading.
The complete announcement can be seen here.