For information on Hong Kong Investment Immigration and Hong Kong's economy: Today, the Hong Kong Stock Exchange and the London Metal Exchange (LME) announced that the board of directors for LME Clear, the self-clearing platform currently under construction by LME, has been established, consisting of five independent non-executive directors and four executive directors, with the appointments effective from December 16, 2013. Furthermore, LME Clear is scheduled to launch on September 22, 2014.
The CEO of LME Clear, Mr. Xibo Neng, stated: “Today is an important day in the development of LME Clear, and we are determined to establish a world-class clearing house.”
Mr. Ge Zhuohao, Head of Global Clearing Business at the Hong Kong Stock Exchange, stated that LME Clear is staffed with talented individuals in clearing and market infrastructure, and we firmly believe that the launch of LME Clear will further strengthen the Hong Kong Stock Exchange Group's capabilities in the clearing business.
LME Clear is headquartered in London, and its design and construction have been guided by the opinions of LME clearing members. LME Clear will fully comply with the requirements of European market infrastructure regulatory rules and will be equipped with cutting-edge technology.
