Hong Kong mercantile exchange reaches gold milestone

Privately-owned commodity exchange took delivery of its first futures contract last week – paving the way for more physically delivered products on the mainland

The Hong Kong Mercantile Exchange, the privately owned commodity exchange launched in May, reached a key milestone last week when it took delivery of its first physical contract as investors tap the mainland commodity market.

The exchange, also known as HKMEx, took delivery of a US-dollar gold futures contract, which matured on August 8. It was purchased by exchange member and shareholder, ICBC, from fellow exchange member Wing Fung futures.

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