Press release from HKMEx

HONG KONG, 17 November, 2011 – The Hong Kong Mercantile Exchange (“HKMEx”), China’s international commodities marketplace, today announces the appointment of Mr Li Wen Long as Executive Director, Business Development – China.  

In his new role, Mr Li will be responsible for the planning, development and execution of marketing strategy in China with special focus on cooperation with the various entities of ICBC, a shareholder and member of HKMEx.   He will report to Jimmy Ho, the Exchange’s Chief Operating Officer, Markets.   

Mr Li joins from ICBC on secondment where he served as the head of research and development division of the bank’s precious metals department.  He has 15 years of experience in accounting, settlement and investment management.  

“We are very pleased to have the strong support of ICBC as a shareholder and as an active market participant, both of which are critical to HKMEx’s goal of becoming the premier destination for global commodities trading into and out of China,” said Barry Cheung, HKMEx Chairman.  “The addition of Wen Long will help strengthen our presence in China.”

Mr Li holds a master’s degree in economics and finance from Renmin University and is a State certified gold investment analyst (CGIA). HKMEx trades a 32 troy ounces gold futures and a 1,000 troy ounces silver futures contract.  Both are in US dollars with the option of physical delivery.  Besides ICBC, HKMEx is backed by other well-established regional and international shareholders including China’s COSCO Group and Russia’s EN+.

For further information please contact:

Aubrey Ho 
Director of Corporate Communications 
Tel +852 3420 9060 or 
aubrey.ho@hkmerc.com 

Raymond Ma 
Corporate Communications Manager
Tel: +852 3420 9022 or 
raymond.ma@hkmerc.com 

About Hong Kong Mercantile Exchange (HKMEx)

The Hong Kong Mercantile Exchange provides a seamless, state-of-the-art electronic platform for commodities trading in the Asia-Pacific time zone, riding on Hong Kong’s world-class financial infrastructure, proximity to mainland China, and unique role as China’s offshore renminbi centre. 

The Exchange, whose shareholders include ICBC, COSCO and En+ Group among others, aims to offer a diverse range of commodity futures on precious and base metals, agricultural products and financial derivatives.  

It is a member of the Futures Industry Association. HKMEx is authorised by the Securities and Futures Commission to operate as an automated trading services provider. HKMEx trades are cleared and settled through HKMEx-appointed clearing house LCH.Clearnet in London. Trading activity on the HKMEx trading platform is not covered by the Investor Compensation Fund. 

For more about HKMEx, visit www.hkmerc.com.

Note from Cinnober
Cinnober is HKMEx’ partner in the development of its trading platform technology, based on theTRADExpress Trading System. HKMEx also utilizes Scila Surveillance for market supervision.