Investors traded a record number of futures contracts via Hong Kong’s bourse in the first eleven months of this year, although the exchange’s commodities arm LME saw volumes slide.

Hong Kong Exchanges and Clearing (HKEX) statistics show 80.9 million futures contracts occurred between January and November - a new record and 10% up on last year.

That included over 30 million Hang Seng futures, levels not seen since 2011.  

Trading of options contracts also reached new highs, including 18.6 million on the H-shares Index, higher than the 15 million seen in 2015.

HKEX ranks 6th globally notional in derivatives turnover, behind the likes of CME, Korea Exchange, India’s stock exchange and Japan.

However, the group’s commodities arm LME, acquired in 2012,  saw volumes decline 7%.

The business handled an average daily volume of 621,791 lots from January to November, down from the 670,189 seen last year.

Copper and aluminum contacts saw steep declines, nickel and lead volumes were also weaker.  

LME, the world's oldest and largest market for industrial metals, has been criticised recently by certain market participants for charging high fees.

In response, the exhange has frozen trading and clearing fees for 2017 and will also waive a usage license fee for physical market participants.

The unit’s pre-tax earnings fell 19% to HK$513m ($66m) in the six months to June – the second consecutive decline over the half-year period.

An extended commodity price slump, which has dragged on for over 18 months, has also dampened trading volumes.

Earlier this week, HKEX chief executive Charlies Li admitted that 2016 “had not been easy”.

He added: “Lots has been said about Hong Kong being an unlikely commodity market, but we purchased LME and we are on our way to expand from that.

“We are also preparing to establish a commodities trading platform in Qianhai, Shenzhen.”