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In yet another attempt to gain further foothold in global futures
trading, China's leading commodities exchange, the Shanghai Futures
Exchange said it would launch after-hours trading this year including in
gold and silver.
The exchange said it will further boost its international ambitions by expanding the list of futures contracts in the coming years, including crude oil.
The extended trading hours will bridge the gap between domestic investors and foreign markets, and will align the exchange with international practices, according to an SGE statement.
The Shanghai Futures Exchange has 10 trading categories, including gold, silver, copper and aluminum.
Analysts said the move will allow market participants to hedge and adjust their positions after breaking news emerges in the United States or Europe, thus reducing price volatility.
SGE now trades from 9 am to 11:30 am and from 1:30 pm to 3 pm Beijing time.
China is also positioning its futures markets to become major players, and shape the global prices for metals, energy and farm commodities as this will give Chinese traders a direct role in valuing the contracts, and will help the country to be less at the mercy of markets elsewhere, they added.
China is a heavy user of industrial and agricultural commodities, such as oil, copper and aluminum. But with an isolated futures market, the country has little say over global prices.
Aside from the Shanghai exchange, China has three other commodities bourses: the Dalian Commodity Exchange in Liaoning province, the Zhengzhou Commodity Exchange in Henan province, and the China Financial Futures Exchange in Shanghai.
COURTESY : BULLIONSTREET
The exchange said it will further boost its international ambitions by expanding the list of futures contracts in the coming years, including crude oil.
The extended trading hours will bridge the gap between domestic investors and foreign markets, and will align the exchange with international practices, according to an SGE statement.
The Shanghai Futures Exchange has 10 trading categories, including gold, silver, copper and aluminum.
Analysts said the move will allow market participants to hedge and adjust their positions after breaking news emerges in the United States or Europe, thus reducing price volatility.
SGE now trades from 9 am to 11:30 am and from 1:30 pm to 3 pm Beijing time.
China is also positioning its futures markets to become major players, and shape the global prices for metals, energy and farm commodities as this will give Chinese traders a direct role in valuing the contracts, and will help the country to be less at the mercy of markets elsewhere, they added.
China is a heavy user of industrial and agricultural commodities, such as oil, copper and aluminum. But with an isolated futures market, the country has little say over global prices.
Aside from the Shanghai exchange, China has three other commodities bourses: the Dalian Commodity Exchange in Liaoning province, the Zhengzhou Commodity Exchange in Henan province, and the China Financial Futures Exchange in Shanghai.
COURTESY : BULLIONSTREET
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