Shanghai looks to Chicago

DISCUSSIONS between the Shanghai Gold Exchange and CME Group are continuing, as both are keen to list each other’s contracts on their respective exchanges.
Shanghai looks to Chicago Shanghai looks to Chicago Shanghai looks to Chicago Shanghai looks to Chicago Shanghai looks to Chicago

An agreement is expected to be signed by in August this year, with trading starting in the first quarter of 2016.

Bloomberg reports that SGE vice president Shen Gang said it would list CME's contracts and prices during the first phase of the agreement, with the contracts being made available to members of the gold exchange during the second phase.

China is the top consumer for raw materials and is increasing its presence in global gold and currency markets.

A deal with the Chicago-based firm will bring SGE closer to CME's commodity exchange, which is the largest futures market for gold.

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