The Hong Kong Mercantile Exchange (HKMEx) will start trading a U.S. dollar silver futures contract on July 22, 2011. The silver contract will trade in units of 1,000 troy ounces and will be delivered in Hong Kong.
Independent clearing house LCH.Clearnet will clear and settle the new contracts. HKMEx, which rolled out a dollar-denominated gold futures contract in May, also plans to launch yuan-priced gold and silver futures, adds Reuters.
Click here for the release from Hong Kong Mercantile Exchange.
Click here for additional coverage from Reuters.