By Enoch Yiu South China Morning Post, Hong Kong Sunday, August 27, 2017
The Hong Kong stock exchange's successful launch last month of gold futures was a boon for the city's beleaguered brokers, offering the small and medium firms that are feeding off the crumbs of the bourse extra trading activity and fee income, at a time when equities transactions have slowed to a trickle.
"The gold futures launched last month were a good beginning," said Alfred Yeung Ping-kwan, founder and chairman of Glory Sky Group, a mid-tier broker and market maker for the yuan-denominated and dollar-denominated gold futures products in the city. "This is still far from a huge success as in the United States, but at least we have taken a good start with a new product at the stock exchange."
It's third time lucky by the Hong Kong stock exchange in its attempt to introduce gold futures trading, as it seeks a broader selection of investment options to cement the city's role as Asia's financial centre. ...
Another big change is the allowance of physical settlements in gold futures, instead of cash settlements as with the two previous attempts, which attracted end investors to the trades, said Yeung. ...
... For the remainder of the report:
http://www.scmp.com/business/banking-finance/.../third-time-...
