BNP Paribas (China) Limited today announced it has been granted membership of the Shanghai Gold Exchange’s (SGE) Main Board. The move will allow the bank to provide even more services to its international and domestic client base.
The granting of this membership means BNP Paribas will be able to fully participate in the Chinese gold market and offer deeper liquidity and a broader product scope.
“Our membership on the main board is an important milestone for BNP Paribas in China, where we have continued to grow our offering. With this move, we will be able to participate in listed gold contracts, gold leasing, and other gold derivatives business,” said BNP Paribas’ Global Markets Head for Greater China, George Sun.
“BNP Paribas is a world leader in commodities trading, including in the precious metals space. Through our participation on the main board, we hope to help boost China’s positioning as a global centre for gold trading,” said Mikko Rusi, BNP Paribas’ Head of FX, Local Markets & Commodity Derivatives for Asia Pacific.
Since starting bilateral gold trading on the SGE in May 2017, BNP Paribas (China) Limited’s gold business has expanded to include Spot, Swaps and Options trading. In April 2019, the bank was awarded the Best Growing Institution in the over the counter market by the SGE.
SGE was established by People’s Bank of China, and upon State Council approval in October 2002, it has been the world trading centre for gold, silver and platinum. In 2018, SGE became the second biggest gold exchange market globally by volume.
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