Hong Kong Mercantile Exchange to Close Monday Gold-Silver Paper Contracts have Cash Settlements

Contracts
will have Cash Settlements:SQ NOTE EVERYONE IS RUNNING OUT OF
DELIVERABLE SILVER AND GOLD FOR SETTLEMENT-HUGE HEADS UP!

http://news.goldseek.com/GoldSeek/1369077753.php

Hong Kong Mercantile Exchange to Close Monday, Gold and Silver Paper Contracts will have Cash Settlements

-- Posted Monday, 20 May 2013 | Share this article | 2 Comments[/size]


HONG KONG, 18 May, 2013: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”) With
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.[/size]
The
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
financial conditions.