Hong Kong 14/06/2016 - The London Metal Exchange (LME) may re-examine its fee structure on certain charges, but the complaints that fees are too high are a myth, parent company Hong Kong Exchanges & Clearing (HKEX) CEO Charles Li said.
‘I am open to discussion as to where the charges are too excessive. Maybe the structure on fees may be re-examined because certain charges create wrong signals and create wrong behaviours and there is unintended consequences, we are going to have to listen’, he told a press conference here on Tuesday.
‘But the myth that fees are too high and members are being crushed to a loss because of high fees – I do not understand this’, he said.
Complaints that the increase in fees since the HKEX purchased the LME have resulted in discussions among some of the metal community to set up an alternative low-cost exchange, which would be overseen by the ex LME CEO Martin Abbott.
‘I am open to listen. This is a great event and people can talk… you will hear passionate speeches, oUr members are passionate… [We are] ready to engage. We have gone through a massive tough battle on warehouses and I have no reason to believe we will not be able to overcome this one,’ said Li.