September 11, 2019 / 7:46 PM / 11 days ago

CME to launch two new Shanghai gold futures contracts in October

Sept 11 (Reuters) - CME Group Inc said on Wednesday it would launch two new Shanghai gold futures contracts on Oct. 14, pending regulatory approvals.

The two new financially settled contracts will be denominated in U.S. dollars and Renminbi, the exchange operator said. The contract sizes will be 1 kilogram, with the U.S. dollar contract priced in troy ounces and the CNH contract priced in grams, and both contracts will be listed on and subject to the rules and regulations of the COMEX, CME said in a statement. Additionally, the Shanghai Gold Exchange will launch new T+N contracts on Oct. 14, which would be linked to COMEX gold futures Asia spot prices and denominated in yuan, CME said.

Reporting by Nallur Sethuraman in Bengaluru Editing by Matthew Lewis

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