Tag Archives: competition

Competitor for COMEX this May

Free market competition in commodities market

After recent correction in the silver market many commentators have spoken out about possibility of price manipulation by the CME (owner of the COMEX). Since there is no proof of such manipulation therefore I will assume there wasn’t any but many market participants may have different opinion on the subject.

However, any long-lasting manipulation is only possible in a monopoly and since free market does not favor monopolies, so it was only a matter of time before a competitor for COMEX arise. At this time the only practical place for a new commodity exchange is in Asia and on May 18 Hong Kong Mercantile exchange will finally offer an alternative to the COMEX[i].
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