Date: July 20, 2013
Source: Futures Daily

Since the continuous trading went live on Shanghai Futures Exchange (SHFE) on July 5, it has successfully run for 10 consecutive trading days by July 19, trading 14,884,000 contracts with a turnover of RMB1.442188 trillion. Among them, there are 2,833,300 gold futures contracts and 12,050,700 silver futures contracts, said a spokesperson of China Securities Regulatory Commission at the press conference on July 19.

Members and investors are active players in the continuous trading after it went live. As of July 10, in terms of members’ participation, the number of daily average participated members are 152, accounting for 92.12% of the total registered members; with 150 broker members involved, accounting for 100% of the registered ones. Trading volume and turnover of continuous trading in July 17 hit a new high since its launch, with 153 members and 34,500 customers involved, said the spokesperson

The spokesperson explained that the trading time of SHFE’s continuous trading almost covers the major trading hours of international precious metals. Specifically, it covers over 75% of the trading hours of the New York precious metals markets as well as the price fixing hours of the afternoon session of the London precious metals physical market. Besides, its trading time is consistent with the time of physical trade on Shanghai Gold Exchange. Therefore, its linkage to relevant markets has been increasingly enhanced, with the price trend closely linked to gold contracts of New York Mercantile Exchange (COMEX) and T+D prices of gold on Shanghai Gold Exchange, which provides an effective tool for investors to avoid risks in price fluctuation in the international markets.