Hong Kong Exchanges and Clearing (HKEx) will launch a U.S. denominated finically-settled gold futures contract in second half of 2008.

The product will have a contract size of 100 troy ounces.

It will be traded from 8:30 a.m. to 12:00 midday and 1:30pm to 5:00 p.m. local time.

The final cash settlement will be based on the fixing determined by London Gold Market Fixing and published by London Bullion Market Association on the last trading day.

The exchange will employ market-makers for the contract following the launch.