HKEX outage zapped key hedge; now banks push for rule change

Dealers seek shutdown of CBBC market if futures go dark

It took markets by complete surprise. Not long into the trading day on September 5 what appeared to be a small glitch in the futures trading platform of the Hong Kong Exchange turned out to be a lot more serious, making it tough for issuers to price listed products fairly.

Unable to quickly fix a software bug that emerged during the morning of that Thursday, HKEX had no option but to suspend futures trading at 2pm. Trading did not resume until the following morning.

Futures are the main

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