Traders upbeat about new Asian exchanges

Two new initiatives to harness interest in the energy markets in Asia - the Hong Kong Mercantile Exchange (HKMEX) and the Singapore Mercantile Exchange (SMX) - have met with cautious optimism from market participants.

HKMEX will seek to bridge the gap between China and international commodities markets by providing a transparent pricing platform, offering tailor-made contracts to hedge pricing risks in China and across the region. It intends to offer lower transaction costs in a bid to increase p