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Impossible please all on warehousing: HKEx

Keywords: Tags  Hong Kong Exchanges & Clearing, HKEx, Charles Li, warehousing, LME, London Metal Exchange, regulations, Claire Hack

LONDON — It will be impossible to please everyone when it comes to handling warehousing issues, Hong Kong Exchanges & Clearing Ltd. (HKEx) chief executive officer Charles Li said Oct. 7 during the London Metal Exchange Metals Seminar.

The LME has completed consultation on its proposals for changes to warehousing regulations, and it will be up to the board of directors to make a decision, he said.

"We have listened and we have wanted to listen. The quality of the feedback and the depth of discussion have shown that people do not feel shy about expressing their views," Li said.

"We’re very pleased to see that. We know this is a very complex issue. We’re not in the business of determining who will be the winners and who will be the losers—that’s for the market to decide," he said.

"No matter what changes we make, we have people who say ‘great’ and other people who say ‘we don’t like it,’ " Li said.

"One thing I’m very, very confident about is that we’ve heard everything that can possibly come from the market. There are people who don’t want to speak on the record, people who will speak on the record and people who speak on the record for some things but not others," he said.

As such, Li is confident that enough information has been gathered for the market to be sure that the LME has done a thorough consultation, even if some participants don’t agree with the decisions. "We will be able to say we’ve found a way to work with one another to do the best that can be done for the broader market," he said.

A version of this article was first published in AMM sister publication Metal Bulletin.

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