PDA

View Full Version : Default Of Silver In The Indian Exchange?



Sapiens
09-08-08, 02:16 PM
https://www.blogger.com/comment.g?blogID=2482877126082032509&postID=2495164371126975602


Mr Morgan,

I am a investor in silver from India who would like to give you the information regarding the silver contract which expired yesterday. The closing price of silver in indian rupees was 18800 per kg but the exchange over here settled all the contract at 20040. Investors who wanted delivery for their silver contracts are not getting it. The exchange is settling their contracts by giving them a marginal premium to the closing price of the contract.
Implicitly that means there is a DEFAULT OF SILVER IN THE INDIAN EXCHANGE.

Regards
Sunil

September 6, 2008 12:43 AM



Cash settlement is their out. Same for other exchanges. Wily bastards.

GRG55
09-08-08, 11:02 PM
https://www.blogger.com/comment.g?blogID=2482877126082032509&postID=2495164371126975602



Cash settlement is their out. Same for other exchanges. Wily bastards.

Has always been thus...

Spartacus
09-09-08, 12:06 PM
I read this (cash settlement will be the "out", that will allow the exchange to avoid claims of default) from Dave Morgan 4 years ago I think



https://www.blogger.com/comment.g?blogID=2482877126082032509&postID=2495164371126975602



Cash settlement is their out. Same for other exchanges. Wily bastards.