Hong Kong exchange closing all orders and settling in cash

[jim4silver]

Just saw this today. Don't know what exactly is going on there, but looks like anyone holding long positions who thought they could seek delivery might be a bit disappointed on Monday morning.

Get this, the article says they will be creating new products for PMs priced in renminbi (China's currency). I guess they were priced in good ole' dollars up till now? I wonder why there would do that?

I imagine we will see more discussion of this by the pundits next week.

HKMEx voluntarily surrenders automated trading services

Jim

 

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[Marchas45]

Yea I seen this Jim, only two years old and folding. Some say it was just in place to move the PM's to the East but we will never know. Tomorrow should be interesting and what price are they going to set for their payoff? Lol