Hong Kong Futures Exchange
| Type | futures exchange |
|---|---|
| Location | Central, Hong Kong |
| Owner | Hong Kong Exchanges and Clearing |
Hong Kong Futures Exchange (HKFE) is a futures exchange in Hong Kong. Established in 1976, it offered a variety of options and futures contracts, linked to stock market indices, stocks, short-term interest rates, and foreign exchange. HKFE is a subsidiary of Hong Kong Exchanges and Clearing Limited.
History
The HKFE went bankrupt in 1987 during the
margin calls through collusion with one of his brokers.[1] However, in the end, no charges were laid against Ng because the colonial government of Hong Kong felt that prosecuting him would pose a risk to overall market stability.[3] Instead, a deal was worked out which saw Ng repay HK$500 million, with Hong Kong taxpayers providing the rest of the funds needed by the Exchange through a government bailout.[2]
On 6 March 2000, a new parent company Hong Kong Exchanges and Clearing for the HKFE, the Stock Exchange of Hong Kong Limited, and Hong Kong Securities Clearing was formed.
See also
References
Notes
- ^ a b Studwell 2007, p. 116
- ^ a b "Remembrance of Things Past: Hong Kong's market collapse of 20 years ago is worth recalling during the present turmoil", Asia Sentinel, 2007-10-23, retrieved 2009-06-05
- ^ Studwell 2007, p. 117
Sources
- Studwell, Joe (2007), Asian Godfathers: Money and Power in Hong Kong and Southeast Asia, Atlantic Monthly Press, ISBN 9780871139689
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