COMMENT: What prices will Fanya go for?

The Fanya Metal Exchange has said that its “members' existing interests will be registered at the metals prices recorded at the close of the market on Friday August 28."

As of 1pm UK time on Friday August 28, the prices listed for indium, germanium, bismuth and antimony on the exchange are listed as "zero", since trading has been suspended.
If it did not mean Fanya prices, then, since making this statement on Tuesday August 25, it has not said which market would be used to determine prices, and therefore calculate payments to the investors.  
Will it use the current off-exchange market rates, as shown on Metal Bulletin, or will it be a "market price" determined by the exchange itself?
Both have their pros and cons.

If Fanya decides to use actual off-exchange market prices, which...


James Heywood

August 28, 2015

16:08 GMT