DGCX first foreign exchange to use Shanghai gold benchmark

The Shanghai Gold Exchange (SGE) and the Dubai Gold and Commodities Exchange (DGCX) are expected to sign an agreement next week making the DGCX the first foreign exchange to use the SGE’s Shanghai Gold Benchmark, Jiao Jinpu, president of SGE, said.

More details are expected when both companies jointly announce their agreement next week, Jiao told reporters on the sidelines on LBMA’s annual conference here on Monday, October 17.

The SGE is in talks with other exchanges for cooperation, Jiao added, though he declined to provide further details.

The SGE rolled out its Shanghai Gold Benchmark on April 19 – the benchmark price is set twice daily at 10:15 and 14:15 Beijing time in the yuan.

(Editing by Mark Shaw)

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