Fanya delays new trading system; investors gather in Yunnan and Xinjiang

The Fanya Metal Exchange has delayed the launch of its new spot trading system that was expected to be rolled out on September 1.

The system will be launched after required approvals from China’s regulatory agencies, the exchange said on Monday August 31 afternoon.
The bourse will seek the opinions of dealer members and authorised agencies before deciding the timeline for the launch.
Many market participants had anticipated the delay amid mounting investors’ concerns over Fanya. 
Investors have expressed concern in recent months that they may lose billions of dollars because of their investments in Fanya, a domestic trading platform that trades and stockpiles minor metals, including indium, bismuth and germanium.

It is reported...


August 31, 2015

12:55 GMT