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.
CME-G
View original
content:http://www.prnewswire.com/news-releases/cme-group-announces-first-trades-of-new-shanghai-gold-futures-300939028.html
SOURCE CME Group