M E TA L S

Shanghai Gold Futures
Key Features

CME Group offers Shanghai Gold (USD) and Shanghai Gold(CNH) Futures - financially settled products based on theShanghai Gold Benchmark PM price from the Shanghai GoldExchange.

• Electronic trading on CME Globex with virtually 24 hours aday, 6 days a week exposure to the market.
• Margin offsets with the flagship COMEX 100oz Gold Futures(GC) and other CME products.

A joint product offering by the world’s most liquid derivatives
and physical marketplaces for gold. The new Shanghai GoldFutures contracts will offer opportunities to global customers
to trade Shanghai gold on COMEX, with a choice to tradein U.S. dollars and offshore Chinese Renminbi. China is oneof the largest gold producing and importing countries in theworld and Shanghai has become the physical trading hub
in the Asian gold market. The Shanghai Gold Price is theRenminbi Gold benchmark, generated by spot auctions heldat the SGE. CME can now provide international investors withexposure to the Chinese gold market via the new Shanghai
benchmark-based futures.

• Monthly listing schedule for arbitrage with 100ozGold Futures.
• Flexibility to choose between USD and CNH denominatedcontracts.

Contract Specifications
Commodity CodeShanghai Gold (USD) Futures

Shanghai Gold (CNH) Futures

SGU

SGC

Reference Price

Shanghai Gold Exchange (SGE) Gold Benchmark PM price

Listing Schedule

Monthly contracts listed for three consecutive months and all February, April,June, August, October, and December contracts within a 12-month period

Contract Size

32.15 troy ounces

1,000 grams

Price Quotation

U.S. dollars and cents (USD) per troy ounce

Offshore Chinese Renminbi (CNH) per gram

$0.10 per troy ounce

0.05 CNH per gram

$3.21550 CNH

Minimum Daily Settlement Price Fluctuation$0.10 per troy ounce

0.05 CNH per gram

Minimum Final Settlement Price Fluctuation$0.05 per troy ounce

0.01 CNH per gram

Minimum Trading Price Fluctuation
Value per Tick

First Listed Contract Month

December 2019

CME Globex Match Algorithm

First-In, First-Out (FIFO)

Settlement Method

Financial

Block Trade Minimum Threshold
Termination of Trading

Rulebook Chapter

5 contracts
Trading terminates on the third last U.S. business day of the contract monthunless it is not a Chinese business day. If it is not a Chinese business day,trading terminates the previous U.S. and China business day.
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If you would like to speak to us regarding Shanghai Gold Futures then please contact metals@cmegroup.com

cmegroup.com
Neither futures trading nor swaps trading are suitable for all investors, and each involves the risk of loss. Swaps trading should only be undertaken by investors who are Eligible Contract Participants (ECPs)
within the meaning of Section 1a(18) of the Commodity Exchange Act. Futures and swaps each are leveraged investments and, because only a percentage of a contract’s value is required to trade, it ispossible to lose more than the amount of money deposited for either a futures or swaps position. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles andonly a portion of those funds should be devoted to any one trade because traders cannot expect to profit on every trade.
CME Group, the Globe Logo, CME, Globex, E-Mini, CME Direct, CME DataMine and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT is a trademark of the Boardof Trade of the City of Chicago, Inc. NYMEX is a trademark of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of theirrespective owners.
The information within this communication has been compiled by CME Group for general purposes only. CME Group assumes no responsibility for any errors or omissions. Additionally, all examples in thiscommunication are hypothetical situations, used for explanation purposes only, and should not be considered investment advice or the results of actual market experience. All matters pertaining to rules
and specifications herein are made subject to and superseded by official CME, CBOT, NYMEX and COMEX rules. Current rules should be consulted in all cases concerning contract specifications.
Copyright © 2019 CME Group Inc. All rights reserved

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