Hong Kong Exchanges and Clearing Limited (HKEX) plans to introduce cash-settled TSI Iron Ore Fines 62 percent Fe CFR China Futures (Iron Ore Futures), with rollout tentatively set for November of this year, subject to market readiness, as announced by HKEX on September 27.
HKEX's Iron Ore Futures contract will be its first ferrous metal product and will complement its existing precious and base metal products.
"With the benefits of electronic trading, our planned Iron Ore Futures will provide a transparent and efficient risk management and investment tool for physical and financial users who want to hedge their price risk or gain exposure in iron ore," said Li Gang HKEX's Co-head of Market Development. "As the gateway to China and Asia's trading and financial centre, Hong Kong provides top-tier professional services from corporate finance, trade finance and logistics to trading and settlement of securities and derivatives. Our Iron Ore Futures will help Hong Kong to offer more comprehensive products and services to the region's physical trading community and financial institutions," he stated.
