On its opening day of international trading, SGE turned over 5,429,633,494 Yuan, which is the equivalent of $884,175,527 which is the equivalent of 7,219 COMEX Gold futures contracts.
Well done SGE!
On the same day COMEX turned over 180,201 contracts.
My cursory calculations (it is difficult to line up timing between the two exchanges) suggest that the pricing of trades in each exchange were quite closely aligned.
It is early days. We will watch with interest.
Cheers.
Afterthought: A demonstrable alignment between the pricing of the COMEX and SGE would be very positive for SGE. Western traders are more likely to participate if SGE pricing is consistent and predictable.
