"The gold futures night market may be launched!" Industry insiders revealed with surprise that the Shanghai Futures Exchange convened a meeting of relevant institutions overnight to study and discuss the introduction of gold futures. This means that "night trading" has been formally put on the agenda at the exchange level and put into practice.
According to industry insiders, once the night trading of gold futures is completed, it will become the first night trading variety of the two major stock exchanges and the four major futures exchanges in the Mainland, which is the first sound of the formal securities and futures market in the Mainland entering the "night trading era" and can be used as a test for other varieties and other markets. Investors are expected to truly integrate into the global 24-hour trading market in the near future.
When to launch has not been clearly determined.
According to industry sources, the Shanghai Futures Exchange convened the heads of futures companies to discuss and discuss the launch of the mainland gold futures night market, and extensively solicited the opinions of futures companies. At the meeting, although the last issue did not clearly finalize when to launch the night market, it said that it would modify the relevant plan according to the research and discussion results of the futures company.
"Personally, I think it is very likely to be launched," the boss of a futures company told reporters frankly. "Now a preparation process is needed, and details such as funds and risk control should be considered."
In fact, mainland exchanges have long been concerned about the issue of trading time. At this year's "8th Shanghai Derivatives Market Forum", Wang Lihua, the chairman of the previous issue, said that he would explore and study the gold night trading business according to market needs. Yesterday's meeting showed that the motion has been translated into practical action at the communication level.
It is understood that the trading hours of mainland gold futures are from 9: 00 am to 165438+ 0: 30 pm and 65438+ 0: 30 pm to 3: 00 pm every Monday to Friday (except holidays), and the total trading time is only four and a half hours every day. Comparatively speaking, there is plenty of trading time for gold in the outer disk. New york gold futures open auction trading time is 20:20-0 1:30 Beijing time. In new york, electronic transactions are also set from 6 am (Beijing time) to 5 am15 every Monday to Friday (except holidays).
"The launch of the Golden Night Market will be a major innovation in the mainland futures market." According to industry insiders, extending trading hours can also better help investors avoid the risk of large price fluctuations.
The details need to be scrutinized again and again.
It is understood that the mainland futures exchange had a plan to promote night trading related varieties as early as a few years ago, but at that time, because the settlement problem could not be properly solved, it finally gave up the launch. And the night trading in the securities market has also been slow to move. On the contrary, there are a lot of night trading in some trading markets other than Shanghai and Shenzhen Stock Exchanges and the four major futures exchanges.
Participants also suggested that if night trading is limited to one kind of gold, futures companies will face the pressure of operating costs. Wu Ling, manager of the New Century Futures Research Center, said, "If night trading is only aimed at a variety of gold futures, the cost is relatively large for exchanges and brokerage companies. It is better to open several varieties together, which is more suitable. It would be better if gold options could be introduced to hedge the overnight risk of gold futures. "
Shanghai Gold Exchange increased night trading from May 3 1.
The Shanghai Gold Exchange issued a notice on Thursday (May 16), announcing that the trading hours on Friday night will be increased from May 3 1 day, which is the so-called Friday night trading. According to the notice issued by official website of the Gold Exchange, the upcoming Friday night trading session starts at 2 1:00 on Friday and ends at 2:30 on Saturday morning, which will be merged with the daytime trading next Monday to form a complete trading day, and centralized clearing will be carried out after the market closes next Monday. This will play a reference role for the night trading of gold futures.
On June 25, the last issue launched the night disk simulation.
Shanghai Futures Exchange announced yesterday that in order to ensure the smooth operation of continuous trading on the Internet, the last issue decided to conduct "continuous trading" simulation trading for the whole market in a real environment. The varieties of this simulated transaction are gold and silver, and the simulated transaction time is from June 25th to July 2nd, from Monday to Friday at 20:00 to 4:00 the next day, in which 2 1:00 to 2:30 the next day is the continuous reporting period for simulated transactions; The system test period is from 2:30 to 4:00 the next day. Because the new continuous trading time is night trading time, the market is commonly known as "night trading".
During the simulated trading period, the previous exchange will conduct a whole market emergency drill on July 1 day, and the opening time of simulated trading on that day will be notified separately.
During the simulated trading period, the former exchange will import the real data of customers' gold and silver positions and customers' rights and interests in the simulated trading environment after the normal trading day closes. Customers can trade according to their real positions and capital status during the simulated trading period, and the simulated trading data will be cleared after the simulated trading ends at 02:30 the next day.