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A Glimpse of SGE and SGEI

SGE was established in October 2002 by People’s Bank of China (“PBOC”) upon approval by State Council and supervised by PBOC.

Founded in September 2014, Shanghai International Gold Exchange (“SGEI”) is registered in Shanghai Pilot Free Trade Zone and fully owned by SGE. SGEI enables foreign institutions and individuals to access to China precious metals market based on FT account system. SGEI is responsible for international market development, international members’ management and offshore investor services.

SGE provides trading, clearing, delivery and vaulting services of gold, silver and platinum. Trading products include physical trading, deferred trading, forward, swap, option and leasing.

SGE assumes full responsibilities under SGE regulations. If one trading party defaults when clearing or delivery by all means of remedies under SGE regulation, SGE will guarantee the other party’s interests and will claim the default party of penalty.

SGE is a membership-based organization with two basic types of members: Domestic Members and International Members. Domestic members include Financial Members, General Members, Proprietary Members and Special Members. Domestic membership can be transferred. International Members include Full Members (Type A Members), Proprietary Members (Type B Members), and Special International Members. International Membership cannot be transferred but can be withdrawn and SGEI will refund the membership fee to the member.

Membership Structure

Introduction of International Advisors

Aram SHISHMANIAN

Chief Executive Officer, World Gold Council

Aram Shishmanian was appointed Chief Executive Officer of the World Gold Council with effect January 2009. Aram has over 30 years' experience as a management consultant. He has worked with many leading financial institutions, at board and senior executive levels, and brings extensive international experience to the role of CEO. During 27 years at Accenture, Aram held a number of leadership roles, including Global Managing Partner of the financial markets industry practice, before becoming a senior partner. Subsequently, he was appointed as a Non-Executive Director of Resolution plc, the Senior Non-Executive Director of Victoria plc, a Non-Executive Director of a Swiss based asset-management company and several other companies. Prior to joining the World Gold Council he was an independent member of the International Executive of Hogan Lovells LLP, one of the leading global law firms. He holds a BA in Economics and an MBA.

Michael DIRIENZO

Executive Director, The Silver Institute

Michael DiRienzo serves as the Executive Director of the Silver Institute, an international association whose membership comprises the major participants in the silver industry. In that capacity, Michael manages the Institute's overall daily activities, budget development and management, implementing the annual plan, public affairs, and government relations activities. From 1999-2002, Michael served as Vice President of the Gold Institute, managing that association's government and public relations activities. Prior to 1999, Michael served as a government affairs representative for Janus-Merritt Strategies, a political and strategic management firm. Michael also represented a member company of the Toyota Group as Director of Government Relations. Formerly, Michael served as Legislative Assistant and Press Secretary to the Chairman of the House Rules Committee, U.S. Congressman David Dreier (R-CA). During his tenure with the Chairman, Michael worked on House Banking Committee and Rules Committee issues.

Paul WILSON

Chief Executive Officer World Platinum Investment Council

Paul Wilson joined WPIC from Bain & Company, the global management consultancy, where he led the firm's UK financial practice. Paul is an investment and wealth management specialist who has enjoyed considerable involvement in the broad financial services sector over the last 25 years. He has also been deeply involved in the precious metals market. While at Bain & Company, Paul helped raise the investment attractiveness of gold by leading the development of the gold market's first and largest Exchange Traded Fund (ETF). Alongside his role at WPIC, Mr. Wilson is a Director of XL Catlin's UK insurance businesses, a Director of Brewin Dolphin Plc, a Director of Unigestion Holding SA and International Chairman of the NGO, Action Against Hunger.

Albert L.H. CHENG

Honorary Chief Executive Officer Singapore Bullion Market Association Advisor, World Gold Council

Albert Cheng joined the World Gold Council (WGC), Singapore regional office in March 1993 as a Regional Manager, Planning and Business Development, Far East, and became Managing Director, Far East in 2003, mainly responsible for operations in the entire region. He retired at the end of March 2015 and has been appointed as Advisor to World Gold Council since April 1, 2015 by the Chairman of WGC. In addition, Albert Cheng was appointed an honorary CEO of Singapore Bullion Market Association in November 2015 and one of the four International Advisors to the Shanghai Gold Exchange since 2002. Prior to his many years in gold market, he was Account Director in Dentsu, Young and Rubicam, Hong Kong in the early 80's, where he was responsible for a number of popular and durable consumer products. Albert Cheng’s career in gold market began in July, 1985 when he joined the Royal Canadian Mint as a Manager for South East Asia. He became a General Manager for Asia since 1990, responsible for entire business in East Asia (including Japan,North Korea) and Southeast Asia. Albert Cheng holds a degree in Business Administration with a major in Marketing from Chinese University of Hong Kong.

Derek SAMMANN

Senior Managing Director Global Head of Commodities & Options Products CME Group

Derek Sammann has served as CME Group's Senior Managing Director, Global Head of Commodities & Options Products since 2014. He is responsible for leading the development, execution and management of CME Group's global Commodities portfolio, including Energy, Metals and Agricultural products. He also globally leads the company's cross-asset class Options business. Since joining CME Group in September 2006, he also has served as Senior Managing Director of Interest Rates and FX Products, and as Managing Director, Global Head of Foreign Exchange. Prior to joining the company, he acquired more than 16 years of experience in the global FX market, including serving as Managing Director, Global Head of FX Options and Structured Products at Calyon Corporate and Investment Bank in London. He also held senior level positions with Credit Agricole Indosuez in London, Banque Indosuez in Paris and Cooper, Neff & Associates in Chicago. In addition to serving on CME Group's Senior Leadership Team, Sammann serves on the Board of Directors of CME Europe Ltd., as Treasurer of the Commodities Markets Council, and on the COMEX Board of Governors in to addition to serving as the Vice-Chairman of the Foreign Exchange Professionals Association (FXPA) when launched in 2014.

Albert HELMIG

Former Vice Chairman, COMEX Former President, Hong Kong Mercantile Exchange

Albert Helmig is the CEO of Grey House LLC, a global financial consulting firm. He previously served as president of the Hong Kong Mercantile Exchange (HKMEx) from 2009-2012. He retired from the exchange in August of 2012.He is also on the international advisory board at the Energy Intelligence Group. Mr. Helmig has been a consultant in the commodity and energy trading industry since 2000 and has more than 35 years of experience in the commodity trading industry. He also serves as director of the International Precious Metals Institute (IPMI). Mr. Helmig was vice chairman of the New York Mercantile Exchange from 1998 to 2000, under former chairman Daniel Rappaport. While at NYMEX, he chaired over twenty committees, including regulatory, clearing, contract design, control, and delivery and marketing committees. As chairman of marketing and vice chairman of the exchange, he was the global spokesman for NYMEX for over ten years, representing the exchange with the energy industry, foreign governments and exchanges at industry forums. He was a member of NYMEX for 16 years and owned and operated the largest independent floor execution service on NYMEX/COMEX with an international clientele. He served on the NYMEX board from 1991 to 2000.Helmig also served as a director of Platinum Energy Resources Inc. from April 25, 2005 to May 11, 2007.

Gautam SASHITTAL

Chief Executive Officer, Dubai Multi Commodities Centre (DMCC)

Gautam Sashittal was appointed Chief Executive Officer of DMCC, one of the world’s leading commodity hubs for trade and enterprise based in Dubai, in February 2014. He has been instrumental in driving sustainable growth by introducing physical, digital and financial infrastructure, regulatory frameworks and freehold property solutions to over 85,000 people, 45,000 employees and over 11,700 companies. Mr. Sashittal spent a large part of his career in the oil and gas industry with Royal Dutch Shell plc, and brings more than 25 years of international business and commodities experience to the Region. Prior to joining DMCC, he was the CFO of the Dubai Gold and Commodities Exchange (DGCX), the Middle East's first derivatives exchange. Mr. Sashittal is a Registered Chartered Accountant; board of directors member of the DGCX, the Dubai Diamond Exchange (DDE) and Concordia.

Haywood CHEUNG

President, The Chinese Gold & Silver Exchange Society

Dr. Haywood Cheung graduated from Concordia University Montreal Canada with Bachelor of Science (Major in Geology Engineering & Economics) in his early years. Later, he went on to obtain Executive Master of Business Administration (2012) and Doctor of Business Administration (2014), from City University of Hong Kong (CityU) in four years. He was awarded the “Honorary Fellow” by CityU in 2016. Dr. Cheung's doctoral dissertation “The Gold Market Under the Internationalization of RMB in Hong Kong” will be published by a renowned UK publishing house. Dr. Cheung has over 30 years' experience in metal trading, securities and futures brokerage and forex dealing. He is the Chairman of Target Insurance (Holdings) Limited (HKEx Stock Code: 6161.HK) - one of the largest car insurers in Hong Kong. He was the Chairman of Simsen International Corporation Limited (HKEx Stock Code: 0993.HK) from 1997 to 2011. In addition to his business portfolio, Dr. Cheung takes up various public duties, including, among others, the 42th, 43th, 45th Term President and the Permanent Honorary President of The Chinese Gold & Silver Exchange Society.

Paul VOLLER

Managing Director, Global Precious Metals Market ,HSBC USA

Responsible for all aspects of HSBC's global precious metals business, including trading, sales, ETF's, physical and custody. Over 30 years experience in the industry having joined the bank directly from school in 1984. Initially based in London in various senior trading positions before moving to New York shortly after the banks acquisition of Republic National Bank of New York in 2001. In this new role Paul was responsible for developing and leveraging off the synergies of the combined banks precious metals businesses before being appointed as Head of Precious Metals for the Americas in 2006 and subsequently HSBC's Global Head of Precious Metalsin 2012.

Peter SMITH

Managing Director, Global Physical Market ,JP Morgan Chase Bank NA., London

Peter Smith is Global Head of Physical Precious Metals including Clearing and Vaulting Services, since 2000.In late 1979, he established and headed the Precious Metals mid and back office in London. Mr. Smith joined JP Morgan’s London Credit Department in 1970 and became Head in 1974, and Assistant Head of EMEA Credit in 1978. Peter Smith has been involved with the London Bullion Market Association, since the inauguration of the Physical Committee in 1987, and Chairman of the Physical Committee since 1992.In addition, Peter Smith was Chairman of the London Platinum and Palladium Market between 2010 and February 2014.

Sunil KASHYAP

Managing Director, Head of Asia – Scotia Mocatta,The Bank of Nova Scotia, Hong Kong

Sunil Kashyap is primarily responsible for managing The Bank of Nova Scotia’s metals business in Asia covering operations in Hong Kong, Singapore, China, India and Dubai. After eight years with Citibank, India and Standard Chartered Bank, Dubai, he joined Mocatta Bullion in 1996 which was taken over by The Bank of Nova Scotia in 1997. He moved to Hong Kong in 2001 to head the Scotia Mocatta’s Asian business. Mr. Kashyap has been registered with HKMA since May 2002 as a “Manager” for The Bank of Nova Scotia, Hong Kong branch under the Banking Ordinance. Sunil has been instrumental in setting up the Bank’s bullion business in several Asian countries and has been closely involved with the liberalization process of the Indian, Chinese and Middle Eastern bullion markets. He is a member of the International Advisor’s Committee of the Shanghai Gold Exchange and sat on the inaugural Gold Committee of the Dubai Metals and Commodity Exchange. He has presented papers in International Conferences in Dubai, Singapore, Kuala Lumpur, Mumbai and Shanghai. Sunil holds a Master’s degree in Business Administration from Cornell University, Ithaca, New York and is an engineering graduate from IIT, New Delhi.

Sergio PAGANI

Global Head of Commodities, ANZ

Sergio Pagani is the Global Head of Commodity Sales and Trading at Australia & New Zealand Banking Group (ANZ). Sergio joined ANZ in 2012 in Singapore where he was initially responsible for the commodities trading business. Prior to joining ANZ, Sergio was Head of Commodities at MUSI (Mitsubishi UFJ Securities International) and a member of the Executive Committee. Sergio has over 20 years of experience in financial markets which range from fund management to sales and trading. He worked at UBS in Zurich at the Private Bank where he was fund manager with investments in bonds and equities and assets under management over CHF1 billion. After moving to London he joined Bankers Trust which subsequently was taken over by Deutsche Bank to market derivative products to European clients. At Dresdner Bank he was Head of European Derivatives Marketing and subsequently moved to trading as Head of Energy & Hybrid Trading. Sergio holds a Masters of Management from EAP (ESCP) and is a Certified European Financial Analyst.

Martyn WHITEHEAD

Global Co-Head of Commodities Sales, Standard Chartered Bank

Martyn joined Standard Chartered Bank from Barclays Bank where he spent 13 years, more recently as Managing Director, Global Head of Mining and Metal Sales. Martyn is a Mining Engineer by background and spent the early years of his career working for the Gold Division of the Anglo American Corporation followed by 6 years at NM Rothschild & Sons Ltd within their metal sales and trading team. Martyn is a former Vice Chairman and Executive Committee Member of the LBMA, former Chairman of the London Gold Market Fixing Company and Director of the London Precious Metals Clearing Co.

Chee Pin LEE

Group Head of Global Markets, United Overseas Bank Limited (UOB)

Mr Lee Chee Pin joined United Overseas Bank Limited (UOB) in May 2016 as the Group Head of Global Markets. He is also a member of its Management Executive Committee. In his role as Group Head of Global Markets, he is instrumental in setting the strategic directions for the business and accountable for its profitability. Mr. Lee held numerous leadership roles in the span of thirty years in the banking and financial industry. Prior to joining UOB, he was Head of Financial Products and Solutions for Wealth Management Division (Asia ex Japan) in Nomura Singapore where he oversaw all dealing functions for the business. He was also Head of Group Treasury for Guoco Group Limited where he was responsible for the group’s funding and hedging strategies. Mr Lee started his career with Chemical Bank as a Money Market trader before joining Bank of America where his last role was Head of Global Foreign Exchange for Asia. He serves as a Committee Member of the Singapore Foreign Exchange Markets Committee as well as a member of the Thomson Reuters Customer Advisory Board.

Kelvin DUSHNISKY

President, Barrick Gold Corporation

Kelvin Dushnisky was appointed President of Barrick in August 2015 and joined the company's Board of Directors in February 2016. He provides overall leadership to the organization and holds responsibility for the execution of Barrick’s strategic priorities. He was appointed Co-President in 2014 and was previously Senior Executive Vice President with global responsibility for Government Relations, Permitting, Corporate Responsibility, Investor Relations and Communications. In 2013, Mr. Dushnisky was named Chairman of the Board of Directors of London-listed African Barrick Gold plc (Now Acacia Mining plc). Mr. Dushnisky joined Barrick in April 2002, with extensive international experience in project approvals, development agreements and public affairs. Prior to Barrick, Mr. Dushnisky served as Vice Chairman, General Counsel and a founding Director of EuroZinc Mining Corporation, Vice President of Sutton Resources Ltd. (acquired by Barrick) and Vice President of Rescan Consultants Inc. He has served on the boards of directors for a number of publicly listed companies. Mr. Dushnisky holds a B.Sc. (Hon.) degree from the University of Manitoba and M.Sc. and J.D. degrees from the University of British Columbia. He is a member of the Law Society of British Columbia, the Canadian Bar Association, the Business Council of Canada, the Institute of the Americas, the Canadian Council for the Americas (Vice-Chair) and the Canadian Chamber of Commerce. Mr. Dushnisky also represents Barrick at the World Gold Council (Chair, Investment Committee), and the International Council on Mining and Metals (ICMM).

Marwan SHAKARCHI

Chairman, MKS Group

Marwan Shakarchi has been appointed Chairman and Chief Executive Officer of MKS (Switzerland) since 1985. Under Mr. Shakarchi’s leadership, MKS’ global presence, vertical integration and market specialization enable the company to service its clientele with unparalleled market-flow information. Marwan Shakarchi is also Chairman and CEO at PAMP S.A. With his guidance, PAMP has acquired numerous and essential industry accreditations, and significantly, is approved as a ‘Good Delivery’ brand by the Swiss National Bank, the London Bullion Market Association (LBMA), the London Platinum and Palladium Market (LPPM), and the world’s leading futures markets, COMEX and TOCOM. In addition, Mr. Shakarchi is regularly a keynote speaker on the subject throughout the industry and before leading financial institutions, forums, and journalists. He is also a primary member of the Task Force Committee to prepare a report on commodities markets for the G20 summit convening in Paris. Marwan Shakarchi holds a BS degree in Finance and Multinational Enterprise from University of Pennsylvania.

Grant ANGWIN

Chairman, LBMA Executive Vice President, Asahi Refining North America

Grant began his career at Johnson Matthey some 30 years ago as an Analytical Chemist at the company's PGM refinery in the UK. He moved from the PGM refinery to the gold and silver business in Royston where he held various management positons until the closure of the Royston gold refinery in 2004. He relocated to the USA in 2005 where he has held senior management positions within the Johnson Matthey Gold NA division was became responsible of the division in 2011. Earlier this year the Gold NA division of Johnson Matthey was sold to Asahi Holdings, Inc of Japan. Following the creation of Asahi Refining, Grant left Johnson Matthey and assumed the role of Executive Vice President for Asahi Refining North America. He was elected to the position of Chairman of the London Bullion Market Association in July 2014 following two years as a director. Grant is an inaugural member of ICE Benchmark Administration's LBMA Gold Price Oversight Committee which has a fundamental role in the governance of the benchmark. He also sits on the Executive Committee of the Washington based Silver Institute. Grant studied Chemistry and Business and Finance at the University of Hertfordshire.

Alan MCGROARTY

CEO of Spire Europe Limited, Global Head of Business of Tower Research Capital

Alan McGroarty has been with Tower Research Capital since mid-2013, serving as the CEO of their European FCA regulated entity, and since October 2016 additionally as Global Head of Tower business units. Alan has over 20 years’ experience working in a range of top Finance institutions, including senior positions at Goldman Sachs, UBS and Merrill Lynch. The majority of his career has been spent creating/growing the electronic trading business, and more recently he spend nearly 5 years establishing and running Citadel’s EMEA execution business. Alan has served on the board of European exchanges, and is presently a member of the executive of FIA-European Proprietary Traders Association. He holds a D.Phil. in Neuropharmacology from Oxford.

Brett FAIRCLOUGH

Chief Executive Officer, Virtu Financial Singapore Pte Ltd

Based in Singapore, Mr. Brett Fairclough currently manages Virtu Financial’s operations across the Asia-Pacific region. Since joining the financial industry in 2007, Mr. Fairclough has worked closely with exchanges, regulators, and other industry participants to foster the growth and development of financial marketplaces around the world. Prior to joining Virtu’s Singapore office in 2014, Mr. Fairclough was the Chief Compliance Officer for Virtu’s broker-dealers in the United States. Mr. Fairclough graduated Magna Cum Laude from the University of California at Los Angeles.

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