Hong Kong’s bourse has established a unit in Dubai to offer pricing administration, price reporting and market analysis services for commodities.
The unit, known as Commodity Pricing and Analysis Limited, will also serve as pricing administrator for the London Metal Exchange’s newly launched sustainable metal pricing services. The metal exchange is wholly owned by Hong Kong Exchanges and Clearing (HKEX).
The Hong Kong bourse, which announced the opening of the Dubai unit in a statement on October 13, says the move underscores its ambition to expand its commodities business in a strategically important region.
According to Bonnie Chan, HKEX’s chief executive officer, the Middle Eastern region is of growing significance for the commodities market and the Dubai unit “will allow us to better serve international stakeholders, deliver trusted pricing and analysis, and accelerate the development of sustainable metal markets”.
