New COMEX Shanghai Gold Futures*

Shanghai Gold Futures.

In Q4 2019, CME Group will launch two financially settled Shanghai Gold Futures, denominated in U.S. dollar or Chinese renminbi.

Shanghai Gold Futures will be a product offering based on the regional gold benchmark price from the Shanghai Gold Exchange (SGE).

COMEX’s Shanghai Gold Futures Explained

Presents choices in selecting the USD or CNH denomination that best meets your needs

Provides access to arbitrage with 100 oz. COMEX Gold Futures


Captures margin offset benefits between COMEX 100 oz. Gold Futures (GC) and other CME Group products

Uses the Shanghai Gold Benchmark PM price (14:15 China Standard Time) for final settlement

About COMEX’s Shanghai Gold Futures

As at the time of writing this communication, China is one of the largest producers and importers of gold, creating an important role for Shanghai as a physical trading hub for the Asian gold market. The Shanghai Gold Price is the renminbi Gold benchmark, generated by spot auctions held at SGE.

As this regional benchmark starts to attract more interest from investors around the world, the new Shanghai benchmark-based futures contracts serve a unique need in the markets, available via CME Group’s COMEX exchange.

Meet COMEX’s Shanghai Gold Futures

Get to know COMEX’s Shanghai Gold Futures and how they will enhance the gold futures market.

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*Pending regulatory review

Contract Specifications

Contract Title

Shanghai Gold (USD) Futures

Shanghai Gold (CNH) Futures

Commodity Code

SGU

SGC

Reference Price

Shanghai Gold Exchange (SGE) Gold Benchmark PM price

Shanghai Gold Exchange (SGE) Gold Benchmark PM price

Listing Schedule

Monthly contracts listed for three consecutive months and all February, April, June, August, October, and December contracts within a 12-month period

Monthly contracts listed for three consecutive months and all February, April, June, August, October, and December contracts within a 12-month period

Venue

CME Globex; CME ClearPort

CME Globex; CME ClearPort

Contract Size

32.15 troy ounces

1,000 grams

Price Quotation

U.S. dollars and cents (USD)

per troy ounce

Offshore Chinese Renminbi (CNH)

per gram

Minimum Trading Price Fluctuation

$0.10 per troy ounce

0.05 CNH per gram

Settlement Method

Financial

Financial

More about Shanghai Gold Futures

Press release

View the press release to announcement our new partnership to the media

SGE benchmark price page

View the current price of Shanghai gold

Shanghai Gold Futures - Further Reading

The Global Footprint of the Chinese Gold Market

In our first article, learn more about China’s physical gold market and its expanding footprint in the global market.

View Article

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