This could see the introduction of metals needed for electric vehicles.
China’s Qianhai Mercantile Exchange (QME) is planning on expanding the range of commodities on its spot Trading Platform. According to an article from Reuters today, this could see the introduction of metals needed for electric vehicles.
Located in Shenzhen, QME is owned by Hong Kong Exchanges and Clearing (HKEX). The exchange provides HKEX with access to mainland China. Back on October 19, 2018 QME launched spot trading for alumina, the raw material for aluminum.
Matthew Chamberlain, the head of the HKEX-owned London Metal Exchange (LME) said this metal was added because there was not already a credible Chinese benchmark price for the ore.
On Wednesday, Chamberlain told the Reuters Global Commodities Summit that: “It’s clear in our discussions that there’s a big niche for discovering the price of alumina in China and that will extend to a whole bunch of other commodities.”
So, could that extend to metals used in the batteries of electric vehicles? According to Chamberlain: “We strongly believe that the idea of spot trading platforms could help across commodities, and why not battery metals? ... Nothing’s off the table.”
LME eyes launch of cash-settled lithium futures contracts in 2020
On the LME, on the other hand, it will use two price-reporting agencies to establish a blend of prices as the benchmark for the cash-settled alumina contract, which it expects to launch at the beginning of next year.
In addition to this, the LME - the world’s oldest and largest market for industrial metals - also plans to add a cash-settled futures contract for cobalt, an electric vehicle metal, also set to be launched in early 2019, Chamberlain said. Following this will be lithium, which is set for a possible launch in 2020, he added.
At present, the QME has placed its emphasis on trading bulk and upstream physical commodities. This, according to Chamberlain, will complement the LME’s focus on futures.
China’s Qianhai Mercantile Exchange (QME) is planning on expanding the range of commodities on its spot Trading Platform. According to an article from Reuters today, this could see the introduction of metals needed for electric vehicles.
Located in Shenzhen, QME is owned by Hong Kong Exchanges and Clearing (HKEX). The exchange provides HKEX with access to mainland China. Back on October 19, 2018 QME launched spot trading for alumina, the raw material for aluminum.
Matthew Chamberlain, the head of the HKEX-owned London Metal Exchange (LME) said this metal was added because there was not already a credible Chinese benchmark price for the ore.
On Wednesday, Chamberlain told the Reuters Global Commodities Summit that: “It’s clear in our discussions that there’s a big niche for discovering the price of alumina in China and that will extend to a whole bunch of other commodities.”
So, could that extend to metals used in the batteries of electric vehicles? According to Chamberlain: “We strongly believe that the idea of spot trading platforms could help across commodities, and why not battery metals? ... Nothing’s off the table.”
LME eyes launch of cash-settled lithium futures contracts in 2020
On the LME, on the other hand, it will use two price-reporting agencies to establish a blend of prices as the benchmark for the cash-settled alumina contract, which it expects to launch at the beginning of next year.
In addition to this, the LME - the world’s oldest and largest market for industrial metals - also plans to add a cash-settled futures contract for cobalt, an electric vehicle metal, also set to be launched in early 2019, Chamberlain said. Following this will be lithium, which is set for a possible launch in 2020, he added.
At present, the QME has placed its emphasis on trading bulk and upstream physical commodities. This, according to Chamberlain, will complement the LME’s focus on futures.
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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