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Hong Kong Exchanges and Clearing has reclaimed dividends of over $500,000 originally issued back in 2001 that shareholders of the exchange failed to claim.
The exchange originally issued a dividend of $0.08 per share, which was payable on 15 October 2001.
However, following the announcement a number of shareholders failed to claim their share and the exchange has now said that it is to claim the unclaimed dividend totalling $510,640.80.
The exchange has not revealed its intentions for the money.
“A lot of banks have spent a lot of money calculating the cheapest way to collateralise their positions, and they’ve hired some very bright mathematicians to do it. Why would they gamble all of that by using the cheapest clearing house?”
Senior rates players believe fears of a race to the bottom among clearing houses has been overstated.