A $45m typo

摘要

FOR Hong Kong's population, trading in complex financial products rivals a day at the track. Despite the territory's tiny size, its market for "exchange-traded warrants" is the most active in the world. Last year's turnover of $534 billion put it far ahead of South Korea and Germany, the next biggest. The instruments give investors the right to buy a security at a fixed price, allowing them to bet on which way a market will move or to arbitrage differences between the warrant and its components.