Hong Kong Exchanges and Clearing will undertake in the third quarter its third attempt to launch a gold futures contract after two previous failures, but traders have mixed views on its chances for success.
HKEX, which operates the local stock and futures markets, on Monday will kick off promotional efforts for a range of workshops and seminar for brokers, investors and media as part of its plan to launch two new gold futures contracts – one in US dollars and one in yuan – with physical delivery.
This will be the third attempt by the local bourse to launch a gold futures contract. The exact launch date will be subject to regulatory approval by the Securities and Futures Commission, HKEX said on Friday. It also said its London’s subsidiary London Metal Exchange will launch a gold futures contract in July.
The last attempt by HKEX to launch a gold futures contract was during the financial crisis in October 2008, but it was scrapped in March 2015 after little interest and no turnover at all for the whole of 2014.
This post was published at South China Morning Post
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