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Hong Kong Mercantile Exchange's 1 Kilo Gold Contract To End Comex Gold Futures Trading (And "Bang The Close") Monopoly

 
BobLeeSwagger
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05/08/2011 04:42 PM
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Hong Kong Mercantile Exchange's 1 Kilo Gold Contract To End Comex Gold Futures Trading (And "Bang The Close") Monopoly
HONG KONG (Commodity Online): The Hong Kong Mercantile Exchange (HKMEx) has received authorisation from the Securities and Futures Commission and will make its trading debut on May 18, 2011 with the 1-kilo gold futures contract offered in US dollars with physical delivery in Hong Kong.

The ATS authorisation grants HKMEx the right to offer market participants, through its member firms, the use of its state-of-the-art electronic platform to trade commodities. The Exchange will begin trading with at least 16 members including some of the world’s largest financial institutions as well as several well-established brokerages in Hong Kong.

“We are very excited about this historic day. It allows us to establish a liquid and vibrant international commodities exchange based in Hong Kong, linking China with the rest of Asia and the world,” said Barry Cheung, chairman of HKMEx. “Global demand for core commodities has in recent years been driven by Asia, especially China and India. However, market participants in the region have had to rely on Western exchanges for price discovery, bearing the basis risk exposure in the process. Our new platform will offer Asia a bigger say in setting global commodity prices. It will also enable market participants to more actively manage their risk exposures, using products tailored to Asian market needs.”

[link to www.commodityonline.com]

Gold and silver bitchez!!

Last Edited by BobLeeSwagger on 05/08/2011 04:42 PM
Anonymous Coward
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05/08/2011 05:39 PM
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Re: Hong Kong Mercantile Exchange's 1 Kilo Gold Contract To End Comex Gold Futures Trading (And "Bang The Close") Monopoly
I better get a PO box ready for you to post your cash over here while its still worth something...
tomato
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05/08/2011 05:45 PM
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Re: Hong Kong Mercantile Exchange's 1 Kilo Gold Contract To End Comex Gold Futures Trading (And "Bang The Close") Monopoly
Anything larger than oz may be gold plated tungsten
BobLeeSwagger  (OP)

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05/08/2011 05:56 PM
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Re: Hong Kong Mercantile Exchange's 1 Kilo Gold Contract To End Comex Gold Futures Trading (And "Bang The Close") Monopoly
I'm just hoping silver comes right behind gold over there, I'm heavy into silver and silver miners right now. It's about time someone stepped up besides us minions to tell the Comex to suck it. Keep your margin hikes, physical bitchez!!