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Notice of Launching Shanghai Silver Benchmark Price Trading

Date: 2019-10-09

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In order to further serve the real economy and consolidate the foundation of the silver market,based on a stable trial operation, SGE will launch the Shanghai Silver Benchmark Price Trading on October 14th 2019, , to provide the Silver Benchmark Price to the domestic market. Details are as follows:


1. The trading code of the Shanghai Silver Benchmark Price Trading is SHAG. The quotation unit is in RMB/kg. The trading unit is 15 kg/lot. And the margin rate of the SHAG contract is 10% during the initial stage of launching. Details can be seen in Specifications of SGE Benchmark Price Contracts - SHAG in Appendix 1- Detailed Rules of the Shanghai Gold Exchange on Benchmark Price Trading (Amended) as attached below.
2. The auction runs twice daily with the AM session begins at 9:45 a.m. and PM session at 14:30 p.m. There are five minutes for the issuance of reference prices and one minute for the display of Initial Price.
3. Members and customers shall file with the Application Form (attached hereto as Appendix 2) for Shanghai Silver Benchmark Price Trading.
4. Executed orders of Shanghai Silver Benchmark Price Trading will be cleared along with other SGE products under the same account. During the end-of-day clearing, SGE will clear positions in the sequence of Price Matching Trading, Benchmark Price Trading, Quote Driven Trading and Price Asking Trading.
5. The transaction fees and physical delivery fees for SHAG will be exempted from October 14th, 2019 to December 31st, 2019.

For Price Fixing Trading (Trading Department): 021-33128789/ 021-33128729。
For Technical Support (Technical Operations and Maintenance Support Department): 021-33128637/ 021-33128782。


Appendix:
Appendix 1- Detailed Rules of the Shanghai Gold Exchange on Benchmark Price Trading (Amended)
Appendix 2- Application Form for Shanghai Silver Benchmark Price Trading



Shanghai Gold Exchange
October 9th, 2019

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