I held some Sep Hang Seng futures contracts overnight heading into LTD (today - Thur in HK) only to learn that trading cancelled today due to Typhoon. Now I'm told by the exchange that there will be no trading in these contracts tomorrow, but they will settle using the average traded price over TOMORROW's trading day. In essence I'm locked into HSI exposure for the next 28 hrs with no means of offloading it outside of hedging in another market. Here is excerpt from the exchange today: "If Typhoon Signal 8 signal or above remains issued at 12:00 noon, there will be no trading today and HKFE will follow the procedures for expiry days and last trading days and use the average of the index and relevant stock price quotations taken every five minutes on the next trading day to determine the OSPs and [final settlement prices] FSPs." Lessons re-learned: 1. Don't f*ck around with contracts near expiration. 2. If you are going to trade in HK, stay on top of the damn weather. That said, for the moment I'm pretty bullish heading into tomorrow so it should work out. Still, not exactly how this trader likes to roll ...