Continuous trading for gold being considered by SFE
Author:Network sources Source:Network sources Date:2013-03-25
 

Shanghai Futures Exchange said on Wednesday it is considering the introduction of new trading rules for gold and silver, which will allow trading from 9 pm to 2:30 am, in addition to current trading periods of 9:00-11:30 am and 1:30-3:00 pm.


Officials said the proposal to extend the trading hours for gold and silver contracts would help investors respond during the main trading hours of international markets as well as complete daytime settlements.


Yang Maijun, chairman of the Exchange, said during the two sessions this year that a nighttime, or continuous, trading market is essential for the Exchange to go international.


Gold and silver prices are closely related to the international market with the pricing of spot gold and silver set during the night, Beijing time.


Officials said the move would improve pricing and risk management, and be more in step with the global market, in turn, helping reduce risks for market participants.


The Exchange said it had chosen between 9 pm and 2:30 am the next day so it will not interfere with Chinese daytime settlement, but still allow trading during the main times for international markets.

 

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