Accumulator activity boosted by increase in implied volatility

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More than HK$1 billion ($129 million) of accumulator products was traded on June 3 in Hong Kong, the largest single-day volume for more than 18 months, dealers say. In an accumulator, the buyer of the product agrees to acquire a fixed number of shares on each trading day over the life of the product, which would typically be six months to a year, so long as a knock-out event does not occur - usually defined as the stock price closing at or above a specified barrier, for instance 105% of its i

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