The Shanghai Futures Exchange (SHFE; ) was formed from the amalgamation of the national level
futures exchange
A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts defined by the exchange. Futures contracts are derivatives contracts to buy or sell specific quantities of a commodity or fi ...
s of
China, the Shanghai Metal Exchange, Shanghai Foodstuffs Commodity Exchange, and the Shanghai Commodity Exchange in December 1999. It is a
non-profit
A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...
-seeking
incorporated body regulated by the
China Securities Regulatory Commission
The China Securities Regulatory Commission (CSRC) is a government ministry of the State Council of the People's Republic of China
The State Council, constitutionally synonymous with the Central People's Government since 1954 (particu ...
.
The trading floor is located in
Lujiazui
Lujiazui, also known under its Shanghainese name Lohkatse (, , lit. meaning " he Lu family's mouth"), is a locality in Shanghai, a peninsula formed by a bend in the Huangpu River. Since the early 1990s, Lujiazui has been developed specifically ...
, in the
Pudong
Pudong is a district of Shanghai located east of the Huangpu, the river which flows through central Shanghai. The name ''Pudong'' was originally applied to the Huangpu's east bank, directly across from the west bank or Puxi, the historic city ...
district of
Shanghai
Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flowin ...
. It currently trades
futures contract
In finance, a futures contract (sometimes called a futures) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The asset ...
s in
copper
Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkish ...
,
aluminium
Aluminium (aluminum in AmE, American and CanE, Canadian English) is a chemical element with the Symbol (chemistry), symbol Al and atomic number 13. Aluminium has a density lower than those of other common metals, at approximately o ...
,
zinc
Zinc is a chemical element with the symbol Zn and atomic number 30. Zinc is a slightly brittle metal at room temperature and has a shiny-greyish appearance when oxidation is removed. It is the first element in group 12 (IIB) of the periodic t ...
, natural
rubber
Rubber, also called India rubber, latex, Amazonian rubber, ''caucho'', or ''caoutchouc'', as initially produced, consists of polymers of the organic compound isoprene, with minor impurities of other organic compounds. Thailand, Malaysia, a ...
, fuel oil, and
gold
Gold is a chemical element with the symbol Au (from la, aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile ...
.
Shanghai Metal Exchange
The Shanghai Metal Exchange (SHME), was established on 28 May 1992. SHME is a non-profit, self-regulating corporation. The exchange was created for trading in
non-ferrous metal
In metallurgy, non-ferrous metals are metals or alloys that do not contain iron ( allotropes of iron, ferrite, and so on) in appreciable amounts.
Generally more costly than ferrous metals, non-ferrous metals are used because of desirable prope ...
s and currently contracts for several non-ferrous metals including
copper
Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkish ...
,
aluminum
Aluminium (aluminum in American and Canadian English) is a chemical element with the symbol Al and atomic number 13. Aluminium has a density lower than those of other common metals, at approximately one third that of steel. It h ...
,
lead
Lead is a chemical element with the Symbol (chemistry), symbol Pb (from the Latin ) and atomic number 82. It is a heavy metals, heavy metal that is density, denser than most common materials. Lead is Mohs scale of mineral hardness#Intermediate ...
,
zinc
Zinc is a chemical element with the symbol Zn and atomic number 30. Zinc is a slightly brittle metal at room temperature and has a shiny-greyish appearance when oxidation is removed. It is the first element in group 12 (IIB) of the periodic t ...
,
tin,
nickel
Nickel is a chemical element with symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a slight golden tinge. Nickel is a hard and ductile transition metal. Pure nickel is chemically reactive but large pieces are slow ...
.
SHME is located in the city of
Shanghai
Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flowin ...
and its
geographical
Geography (from Greek: , ''geographia''. Combination of Greek words ‘Geo’ (The Earth) and ‘Graphien’ (to describe), literally "earth description") is a field of science devoted to the study of the lands, features, inhabitants, and ...
location bridges the time gap between
London Metal Exchange
The London Metal Exchange (LME) is a futures and forwards exchange with the world's largest market in standarised forward contracts, futures contracts and options on base metals. The exchange also offers contracts on ferrous metals and precious ...
and
New York Mercantile Exchange
The New York Mercantile Exchange (NYMEX) is a commodity futures exchange owned and operated by CME Group of Chicago. NYMEX is located at One North End Avenue in Brookfield Place in the Battery Park City section of Manhattan, New York City. ...
markets, thus enabling traders across the world to have a 24-hour access to
futures contract
In finance, a futures contract (sometimes called a futures) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The asset ...
s of non-ferrous metals. SHME is currently the largest non-ferrous metals futures exchange in China and the third largest exchange of its kind in the world.
Shanghai International Energy Exchange
The Shanghai International Energy Exchange (INE; 上海国际能源交易中心) is a subsidiary of the Shanghai Futures Exchange established in 2013. It was created for trading
energy derivative
An energy derivative is a derivative contract based on (derived from) an underlying energy asset, such as natural gas, crude oil, or electricity. Energy derivatives are exotic derivatives and include exchange-traded contracts such as futures a ...
s. Contracts include futures and
options
Option or Options may refer to:
Computing
*Option key, a key on Apple computer keyboards
*Option type, a polymorphic data type in programming languages
* Command-line option, an optional parameter to a command
*OPTIONS, an HTTP request method
...
on commodities such
crude oil,
copper
Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkish ...
,
low sulfur fuel oil, and
rubber
Rubber, also called India rubber, latex, Amazonian rubber, ''caucho'', or ''caoutchouc'', as initially produced, consists of polymers of the organic compound isoprene, with minor impurities of other organic compounds. Thailand, Malaysia, a ...
. The exchange's hours are 9AM–11:30AM and 1:30PM–3:00PM
China Standard Time
The time in China follows a single standard UTC offset, time offset of UTC+08:00 (eight hours ahead of Coordinated Universal Time), even though the country spans almost five geographical time zones. The official national standard time is called '' ...
.
See also
*
List of futures exchanges
This is a list of notable futures exchanges. Those stock exchanges that also offer trading in futures contracts besides trading in securities are listed both here and the list of stock exchanges.
Africa Kenya
* Nairobi Securities Exch ...
*
List of stock exchanges
This is a list of major stock exchanges. Those futures exchanges that also offer trading in securities besides trading in futures contracts are listed both here and in the list of futures exchanges.
There are sixteen stock exchanges in the wo ...
*
List of stock market indices
Commonly used stock market indices include:
Global
Large companies not ordered by any nation or type of business:
* MSCI World (i.e. MSCI ACWI Index)
* S&P Global 100
* S&P Global 1200
* The Global Dow – Global version of the Dow Jones ...
*
Hong Kong Exchanges and Clearing
References
External links
Shanghai Futures Exchange: Official websiteShanghai Futures Exchange: English websiteShanghai International Energy Exchange: Official websiteShanghai International Energy Exchange: English website
{{Authority control
Financial services companies established in 1999
Commodity exchanges in China
Futures exchanges
Economy of Shanghai
Metal industry
Chinese companies established in 1999