Revenue shortage forces Hong Kong Mercantile Exchange shutdown

The Hong Kong Mercantile Exchange's revenues are not covering its operating expenses, prompting it to return its license. The exchange is no longer permitted to trade, according to a Securities and Futures Commission statement. "With immediate effect no new orders may be placed and all open positions will be financially settled at the settlement price determined by the Hong Kong Mercantile Exchange and its designated clearing house," according to the operator.

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Bloomberg Businessweek · South China Morning Post (Hong Kong) (free registration) · Reuters

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