China Securities Depository and Clearing Hong Kong Company Limited
If you deal with a company which is not licensed by the SFC, you may not be protected by the regulatory framework enforced by the SFC. In April 2002, HKEX launched a study to consider the delisting of "penny stocks" to improve market efficiency. Its 25 July 2002 proposal to cancel listings of companies trading below HK$0.50 for 30 straight days hit penny stocks hard. HKEX continues to hold 100 per cent of the voting ordinary shares of OTC Clear. The Chicago Mercantile Exchange or CME is a futures exchange which trades in interest rates, currencies, indices, metals, and agricultural products. While clearing corporations may facilitate all forms of transactions, they are most helpful in more complex transactions, such as futures contracts. Futures are financial contracts that obligate a buyer to purchase an asset, such as a physical commodity like wheat, or a seller to sell an asset, at a predetermined future date and price. James Chen, CMT is an expert trader, investment a...