Qianhai Mercantile Exchange (QME) is a physical commodities trading platform initiated by Hong Kong Exchanges and Clearing Limited (HKEX Group) and Qianhai Financial Holdings as joint shareholders. It is located at Shekou area, Qianhai, Pilot Free Trade Zone, Guangdong, China.HKEX Group is a leading financial operator in the world providing excellent trading and clearing services for various assets including equity secures, commodities and fixed income and currency products. London Metal Exchange (LME), a subsidiary of HKEX Group, has over 140 years of experience in commodities trading and management.Qianhai Mercantile Exchange (QME) officially made debut on 19 October 2018 with trading in alumina. The first physical transaction saw 3,000 tonnes of alumina changed hands between Chalco Trade and Xiamen Xiangyu at a transaction price of 3,030 yuan a tonne, recording the first benchmark pricing of physical alumina based on actual transactions in the Mainland market.QME serves the real economy by establishing fair benchmark prices and market order with the industry customers in the physical commodities sphere and creating channels for inflow of funds into the real economy, thereby promoting the efficient operation and development of the market. QME will continue to focus on developments in industries and commodities market, and respond to market demand in a timely manner. Also it will work closely with industry customers and associations to fill the market needs by applying new technologies as well as continuously provide innovative products and services to meet customer needs.QME aims to set up a standardised asset framework connecting entities with the financial market through technology, cross-border cooperation and finance, to offer a practical solution to the financing difficulties facing physical enterprises.
With the synergistic effect created through the coordination with London Metal Exchange (LME), a subsidiary of the HKEX Group, it is hoped that the strategic goal of making QME a RMB pricing centre for global commodities can ultimately come true.
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