."Looks like the fraudulent scammers at the CME are being forced to recognize the main elephant in the room before they become completely irrelevant."
Looks that way. I have previously posted the SGE trading rules and they look pretty strict.
"The two contracts, one denominated in U.S. dollars and the other in the yuan are expected to be launched in the fourth quarter of this year." One thing makes me nervous: Why does CME get to also quote the GP in dollars on the Chinese exchange? China manages its exchange rate with the dollar, so it will be just a straight conversion. If CME keeps the NY futures exchange going, it may open up GP/exchange rate arbitrage opportunities for them. Maybe this is a main reason why they are getting into the SGE. Alternatively, CME could move the whole US gold and silver futures operation to China. After all, the IMF has signalled that it will move its headquarters to China.
