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.
pleased to see that. We know this is a very complex issue.
Were not in the business of determining who will be the
winners and who will be the losersthats 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 dont like it, "
"One thing Im
very, very confident about is that weve heard everything
that can possibly come from the market. There are people who
dont 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 dont agree with
the decisions. "We will be able to say weve 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