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Hong Kong Exchanges and Exchanges Clearing’s shares fell 13.89% today (Monday October 27), as Hong Kong stockmarkets closed down almost 13%.
However, the bourse declined to say why...
“The fact is, an awful lot of people would be very happy for all business to be transacted over the counter. Transparency is good for the consumer, but privacy is better for the banks and the brokers. Wherever there’s a grey area, it’s possible to make money.”
European consultants predict frantic lobbying during the Mifid review.