HKEX Welcomes First Listing of Commodity L&I Product in Hong Kong Market
- First commodity L&I Product listed in Hong Kong
- Complements HKEX's existing gold ETFs and further enriches product diversity
HONG KONG, June 5, 2020 /PRNewswire/ -- Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to welcome today (Friday) the first listing of a commodity Leveraged and Inverse Product (L&I Product) in the Hong Kong market – CSOP Gold Futures Daily (2x) Leveraged Product (stock code: 7299).
The launch of the gold futures Leveraged Product complements HKEX's existing gold Exchange Traded Funds (ETFs) and provide investors with an additional tool to gain leveraged exposure to gold as an investment asset. The listing also comes at a time when trading and hedging demand for gold increased – in the first five months of 2020, the average daily turnover (ADT) of Hong Kong-listed gold ETFs increased to HK$100 million from HK$18 million for the same period last year.
HKEX's Head of Exchange Traded Products Brian Roberts said: "The introduction of the first gold futures Leveraged Product provides investors the ability to express a short-term market view on gold prices. Today's listing further enriches the product diversity of Hong Kong's ETP market."
In the first five months of this year, the ADT of Exchange Traded Products (ETPs), including ETFs and L&I Products, rose to HK$7.3 billion from HK$6.6 billion in the same period last year. L&I Products gained strong momentum year to date, with total turnover rising to HK$46 billion in May from HK$16.5 billion in January, and with one-day turnover reaching a record high of HK$5.17 billion on 22 May.
Further information about Hong Kong-listed ETPs is available in HKEX's website.
Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world's major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world's leading IPO market and as Hong Kong's only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia's most vibrant markets.
HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited. This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange (QME), in China, in 2018.
HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.