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Shanghai Gold Exchange Unveils First Global Members

Shanghai Gold Exchange (ShGE) has approved Standard Chartered and HSBC as its first offshore members. Both banks are expected to commence gold trading and market making on the exchange by April.

ShGE traded 1,828 tons of gold in 2007, up 46% from the previous year. China’s only gold futures contract was launched last month by the Shanghai Futures Exchange (Squawkbox, 14 January).

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