All domestic institutions and personnel who are keen on or need gold, platinum and silver in kind and investment speculation can open accounts with the assistance of members according to the requirements of Shanghai Gold Exchange.
2. Trading method
At the beginning of the opening of the exchange, spot gold trading should be carried out. Before the transaction, the buyer member must deposit the corresponding amount of RMB funds into the account designated by the exchange. Seller members must deposit all gold for sale in the gold delivery warehouse designated by the exchange. According to the principle of "price first, time first", members can choose to conduct transactions on-site or remotely.
3. Various transactions
The exchange implements standardized trading, and gold trading must meet the standards set by the exchange; The quotation unit for gold trading is RMB/gram (two decimal places are reserved), and the minimum trading unit for gold ingots is kilograms. The minimum delivery quantity of gold ingots is 6 kg. The commodities traded are gold, silver and platinum.
4. Trading time
From Monday to Friday at 08: 50am-11:30pm13: 30pm-15: 30pm at 20: 50am-02: 30pm, Monday at 08: 50am, and transactions on Monday night are counted as the next day, and so on on Thursday night.
5. Capital settlement
The Exchange designates ICBC, Bank of China, China Construction Bank, Agricultural Bank and other 16 banks as clearing banks, and implements the principle of centralized, direct and net fund settlement.
6. Storage and delivery
The Exchange implements the delivery principles of "selecting stocks to enter the market" and "selecting stocks to get goods", and has set up 4 1 designated delivery warehouses in 34 cities across the country. Members can freely choose the delivery warehouse to store or withdraw gold. Gold allocation is uniformly dispatched by the exchange, and the exchange is responsible for distribution, ensuring that gold is obtained within 3 days after the transaction.
7. Quality inspection
The Exchange designates quality inspection institutions to undertake the work of quality standards for gold ingots and bars, qualification certification of qualified smelters and grades, arbitration and testing of product quality disputes, etc. Gold ingots traded on the exchange are produced by enterprises certified by the exchange to provide standard gold ingots and bars, and qualified smelters are responsible for the quality of their products for life.
8. Transaction costs
The exchange will charge a certain percentage of handling fee according to the transaction amount, and the new handling fee standard will be implemented from March 20 12: gold variety: Au(T+D) handling fee rate will be reduced from 0.03% to 0.025%; The handling fee rate of spot gold varieties was reduced from 0.045% to 0.04%. Silver varieties: the handling fee rate is reduced from 0.03% to 0.025%. Platinum varieties: the handling fee rate is reduced from 0.05% to 0.045%. The handling fee rate of other varieties (contracts) remains unchanged
9, the principle of taxation
With the approval of the Ministry of Finance and State Taxation Administration of The People's Republic of China, the standard gold traded through the exchange is exempt from value-added tax and will be returned immediately after collection.
10, the role of banks
In accordance with international practices and market principles, we will make adjustments when supply and demand change, participate in market transactions, provide financial services such as gold mortgage, leasing, agency and personal gold trading business, further activate transactions and promote circulation.