The Hong Kong Mercantile Exchange (HKMEx) announces today it has decided to voluntarily surrender the authorisation to provide automated trading services (“ATS”) granted by the Securities and Futures Commission (“the SFC”).
immediate effect, no new orders may be placed and all open positions
will be financially settled at the settlement price determined by HKMEx
and its designated clearinghouse.
voluntary surrender decision was made to enable the Exchange to
re-align its strategy with the new industry environment since its
trading revenues have not been sufficient to support operating expenses
and, as a result, its inability to meet the required regulatory
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