HKMEx would launch its silver futures within the next month.
It appears this was good information, as HKMEx has just announced that silver futures contracts will launch THIS FRIDAY, July 22nd!
SINGAPORE, July 18 (Reuters Africa) - The Hong Kong Mercantile Exchange (HKMEx) said on Monday it will start trading a dollar-denominated silver futures contract on July 22, hoping to tap into the growing demand for the metal in China.
The silver contract will trade in lots of 1,000 troy ounces and be delivered in Hong Kong, the exchange said in a statement.
Silver demand rose 67 percent in China and 17 percent globally between 2008 and 2010, the exchange said, citing market data it has compiled.
"The new contract will enable buyers and sellers in China to trade effectively with their counterparts across the world, while at the same time, allowing investors to gain exposure to silver price movements and broaden their investment portfolio," said HKMEx president Albert Helmig in the statement.
The exchange also plans to launch yuan-priced gold and silver futures to capitalize on growing investor demand for China's strengthening currency, with further ambition for products in base metals, energy and agriculture, Helmig told Reuters earlier this month.
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