CME Group and Shanghai Gold Exchange to Launch New Gold Futures Contracts Connecting Global Market Participants to Chinese Gold Markets

News provided by

Jun 20, 2019, 09:32 ET

LONDON and SINGAPORE and CHICAGO, June 20, 2019 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced that 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 marks 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 cooperation 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.

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

SOURCE CME Group