Wednesday, 8th September 2004 (2668 views)

The Shanghai Gold Exchange (SGE) has announced that it is planning to revamp its systems and develop new products in a bid to achieve the level of other international markets.

A key aim for the company is to establish an efficient, high-capability, safe system that can fully adapt to gold transactions in China.

Speaking at the London Bullion Market Association (LMBA) Precious Metals Conference, She Xiaorong, chairman of the SGE board, said: "The SGE's new trading system now supports 1,000 quotations a second and three million customers at the same time.

"In addition to maintaining current business, this new trading system can also support spot, forward, deferred and even futures trading methods."

The exchange claims it is "continuously strengthening" its range of products and it recently began a trial listing of small scale gold bars to allow different investors to enter the market.

 

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