HKMX reveals details ahead of launch in Q1 2009

25 Jun 2008

Hong Kong Mercantile Exchange (HKMX) has confirmed LCH Clearnet as the exchange’s clearer, while Patsystems and Nasdaq OMX will provide technology to the bourse.

HKMX will trade U.S. dollar oil contracts when it opens in the first quarter of 2009, but the exchange said that it will expand into...

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“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.

HKMX reveals details ahead of launch in Q1 2009

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