CHICAGO and SHANGHAI, Oct. 15, 2019 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced the first trades of the new Shanghai Gold (USD) futures and Shanghai Gold (CNH) futures contracts, launched on October 14, 2019 were executed by Bank of China. A total of nine futures contracts were traded by various commercial customers on October 14.
"Bank of China is very pleased to have executed the first trades of the new Shanghai Gold futures on CME Group," said Zhen Mei, General Manager of Global Markets Department, Bank of China. "The new products bridge the two largest gold exchanges effectively as China's gold market continues to internationalize. This offers new trading opportunities to the market."
"We are pleased to see industry support for the new Shanghai Gold futures contracts," said Young-Jin Chang, Managing Director and Global Head of Metal Products, CME Group. "The addition of these products in both USD and CNH further strengthens CME Group's already broad range of tools for global market participants in accessing Chinese gold markets and managing their price risks."
Designed to connect global market participants to Chinese gold markets, these two new financially-settled contracts are based on the SGE Gold Benchmark PM Price. CME Group is using the EBS CNH Benchmark – 3pm Beijing for USD conversion. The contract sizes are 1 kilogram, with the USD contract priced in troy ounces and the CNH contract priced in grams, and both contracts are listed on and subject to the rules and regulations of the COMEX.
For more information, visit www.cmegroup.com/shanghaigold.
About CME Group
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana, Inc., respectively. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners.
SOURCE CME Group