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 f ...

s of

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

, 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 trading floor is located in

Lujiazui Lujiazui, also known under its Shanghainese name Lohkatse (, , lit. meaning " heLu (surname 陸), 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 dev ...

, 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 flow ...

. 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 pinkis ...

aluminium 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. I ...

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 periodi ...

, 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, and ...

, 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 met ...

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 proper ...

s and currently contracts for several non-ferrous metals including

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 has ...

lead Lead is a chemical element with the symbol Pb (from the Latin ) and atomic number 82. It is a heavy metal that is denser than most common materials. Lead is soft and malleable, and also has a relatively low melting point. When freshly cu ...

tin Tin is a chemical element with the symbol Sn (from la, stannum) and atomic number 50. Tin is a silvery-coloured metal. Tin is soft enough to be cut with little force and a bar of tin can be bent by hand with little effort. When bent, t ...

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 to ...

. SHME is located in the city of

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

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 an ...

s. Contracts include futures and options on commodities such

crude oil Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crude ...

low sulfur fuel oil Fuel oil is any of various fractions obtained from the distillation of petroleum (crude oil). Such oils include distillates (the lighter fractions) and residues (the heavier fractions). Fuel oils include heavy fuel oil, marine fuel oil (MFO), bun ...

, and

. The exchange's hours are 9AM–11:30AM and 1:30PM–3:00PM

China Standard Time The time in China follows a single standard 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 ''Beijing Tim ...

References

External links

Shanghai Futures Exchange: Official website

Shanghai Futures Exchange: English website

Shanghai International Energy Exchange: Official website

Shanghai 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

Shanghai Metal Exchange

Shanghai International Energy Exchange

See also

References

External links