Bethan Wilde, the only woman trader on the floor of the London Metal Exchange, was hired by Hong Kong Exchanges (388) & Clearing Ltd. as senior manager of business development and strategy.
Wilde, who is moving to Hong Kong, starts in about a month, Hong Kong Exchanges said by e-mail yesterday in response to questions from Bloomberg.
Wilde, 29, trades on the LME floor for London-based Metdist Trading Ltd. The LME, the world’s largest metals marketplace, was bought by Hong Kong Exchanges for $2.2 billion last year. Metdist confirmed she is leaving.
“I would recommend the trading floor as a wonderful place that I had the privilege to be part of,” Wilde said. “I was immediately accepted.”
JPMorgan Chase & Co., Societe Generale SA and Jefferies Group Inc are among the 11 companies that work on the LME floor, known as the ring. London’s last venue for open-outcry trading is based on Leadenhall Street in the city’s financial district. The bourse handled a record 159.7 million contracts in industrial metals valued at $14.5 trillion last year.
Hong Kong Exchanges agreed to keep the LME’s open-outcry trading and contract structure and the existing warehousing system. The bourse is planning to establish LME licensed warehouses in China and to explore adding LME’s products in Hong Kong, it said in its strategic plan published last month.
The Asian bourse also wants to expand the number of LME participants in mainland China and start commodities trading and clearing of LME products during Asian hours over the next three years. Hong Kong Exchanges may add iron ore, freight, coking coal and even agricultural products including rubber, Chief Executive Officer Charles Li said Oct. 15.
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