LONDON and SINGAPORE and CHICAGO, June 20,
2019 /PRNewswire/ -- CME Group, the world's leading and
most diverse derivatives marketplace, and Shanghai Gold Exchange
(SGE), the world's largest physical gold exchange, will grant CME
Group a license to use, create and list futures contracts based on
SGE's Shanghai Gold Benchmark PM Price.
In the fourth quarter of 2019, pending regulatory reviews, CME
Group will launch two new financially-settled gold futures
contracts denominated in U.S. dollars and Renminbi – Shanghai Gold
(USD) futures and Shanghai Gold (CNH) futures. The new contracts
will be listed with and subject to the rules of COMEX, home to the
world's most liquid gold futures.
This is the first step in promoting cross-market cooperation
that will connect the global liquidity of CME Group's COMEX Gold
futures to the world's largest physical gold market in China through SGE.
"While strengthening our relationship with SGE, this will create
opportunities for customers who want to access China's physical gold prices alongside our
COMEX Gold futures and options," said Derek
Sammann, Senior Managing Director, Global Head of Commodity
and Options Products, CME Group. "Global traders will be able
to trade Shanghai gold on CME
Globex in both U.S. dollars and offshore Chinese Renminbi."
For more information, visit
www.cmegroup.com/shanghaigold.
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.
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