China’s growing appetite for energy and resources has led to the set up of the Hong Kong Mercantile Exchange (HKMEx) to bridge the gap between the international commodities markets and China.
It provides an efficient and transparent pricing platform for end-users and the global trading community to trade tailor-made contracts, hedge pricing risks in China and across the region, lower transactions costs and increase participation by Chinese and international commodities traders.
To ensure its smooth and efficient operation, and the implementation of its future growth strategy, the new exchange has appointed Ann Cresce as general counsel and head of compliance.
“Ann’s appointment adds more depth to our team as we continue building Hong Kong’s commodities exchange,” said HKMEx chairman Barry Cheung. “Compliance is a critical element to ensure the integrity of the exchange and we are extremely pleased to have someone of Ann’s calibre join us.”
Cresce is responsible for managing all legal and regulatory functions for HKMEx. She joined from the Chicago Climate Exchange, where she was senior vice president and general counsel, overseeing all legal affairs pertaining to domestic and foreign business development, corporate matters, regulatory issues, intellectual property, and human resource issues.
“Nothing better anticipates the future in the exchange industry than the establishment of a commodities marketplace in Hong Kong. I am very excited about the prospects for HKMEx,” Cresce said.