HKEX and Chinese Gold and Silver Exchange sign MOU

HONG KONG – The Hong Kong Stock Exchange and The Chinese Gold and Silver Exchange Society (CGSE) today signed an MOU to consider co-operation on matters ranging from product promotion to storage vaults.

"With a long history of physical gold trading and a well-established logistics network, Hong Kong is in a good position to develop trading of gold futures with physical delivery and build price benchmarks," said Charles Li, Chief Executive of HKEX. 

"Our Gold Futures will offer physical market users hedging opportunities and attract financial players, supplementing Hong Kong's physical trading and helping establish a regional price benchmark.

"The pair of new contracts, which are denominated in USD and RMB, will also enable investors to arbitrage between the precious metal and the currencies, and further strengthen Hong Kong as offshore RMB centre." .www.hkex.com.hk (ATI).