Hong Kong Mercantile Exchange established

August 1, 2008

The Hong Kong Mercantile Exchange (HKMEx), established on June 25, hopes to start operations in early 2009 with fuel oil as its first trading contract, local media reported. HKMEx expects to receive approval from the Securities and Futures Commission of Hong Kong by the end of this year. Titan Petrochemicals, a Singapore-based petroleum products provider, is the biggest shareholder with nearly 50% of the total shares. (June 26, 2008)

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