Sunday, May 19, 2013

Hong Kong Mercantile Exchange closes its doors

Yet again another paper gold exchange shafts clients with forced cash only settlements........

From The South China Morning Post

Article link

HKMEx chairman Barry Cheung Chun-yuen told the Sunday Morning Post that the decision to surrender the trading licence and not reopen for business tomorrow would have no impact on investors and that client contracts would be honoured.

"There is no question of not getting your money back or anything like that. People absolutely do not have to worry about that and I don't think they are.

"The only thing they will want to know is what settlement price will be used," Cheung said.

No comments:

Post a Comment