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$1,391.7 gold futures

Same thing. I chase the exchange not the counter party. How the...

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sergeant

6,134 Posts.

443

04/03/21

16:45

Post #: 51525034
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Originally posted by wrcmad ↑

"If I want delivery and the exchange doesn't honour the contract, I don't sue the counter party (who is known only to the exchange), I sue the exchange."

It will not be the exchange who dishonour's - they are not are party to the transaction, and not a bullion dealer either.
The exchange has member allocated allowances to cover situations when members default.
The exchange will deal with the third party on your behalf, so I bet you can't, won't and don't sue the exchange.
Would you like a chocolate?

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Same thing. I chase the exchange not the counter party. How the exchange pay me is upto them. First and foremost I have a contract with Comex as the clearing partner.
No thanks, stay where you are, please
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