Shanghai Gold Exchange
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| Shanghai Gold Exchange | |
| |
| Founded | 2002 |
|---|---|
| Headquarters | Shanghai |
| Products | Gold, silver, platinum spot and forward |
| Web site | http://www.sge.sh |
Shanghai Gold Exchange (SGE) is a non-profit self-regulatory organization, approved by the State Council, organized by the People's Bank of China, and registered with the State Administration for Industry & Commerce, for the purpose of gold, silver, platinum and other precious metals transactions under the principles of openness, fairness, and justice.[1]
The People's Bank of China gave approval to the Shanghai Gold Exchange in mid-2007 to accept foreign banks as members. Foreign banks applying to be accepted as members of China's Shanghai Gold Exchange should be locally incorporated.[2]
In March of 2008 the China Banking Regulatory Commission (CBRC) issued permits allowing Chinese commercial banks to trade gold futures on the Shanghai Futures Exchange (SHFE). Commercial banks are required to be members of the SGE and the SHFE before conducting gold futures trading through the SHFE. Moreover, banks must have a capital adequacy ratio of over eight percent, the CBRC announced.[3]
Contents |
History
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Products and Services
Key People
References
- ↑ Welcome to SGE. SGE. Retrieved on June 10, 2008.
- ↑ Shanghai Gold Exchange Wants Foreign Members Incorporated in China. MarketWatch. Retrieved on June 10, 2008.
- ↑ Chinese Regulator Authorizes Commercial Banks to Trade Gold Futures. Resource Investor. Retrieved on June 10, 2008.
