Shanghai Gold Exchange

Name

Shanghai Gold Exchange

Legal name

Shanghai Gold Exchange

Website

https://en.sge.com.cn

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Commodities Exchange

NAICS

Securities and Commodity Exchanges (52321), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Metals Commodities Exchanges (Precious & Base Metals) (FSAFAMAD)

akta.pro secondary industries

Metals Derivatives Exchanges (Precious & Base Metals) (FSAFABAE), Physical Spot Commodity Exchanges / Marketplaces (FSAFAMAH)

Keywords

• Precious metals exchange
• Gold trading platform
• Central counterparty clearing
• Physical gold settlement
• Commodities market infrastructure

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Transaction Fees: Fees charged on trading volume across physical and margin contracts. Rates vary by contract type: 0.02% of contract value for deferred contracts, 0.035% for certain physical contracts, 0.04% for platinum contracts.
2. Delivery and Vaulting Fees: Fees for physical delivery services and vault storage at SGE certified vaults. Delivery fee for silver is 1 yuan/kg.
3. Membership Fees: International Membership fees from Full Members (Type A), Proprietary Members (Type B), and Special International Members (Type C). Membership cannot be transferred but can be withdrawn with refund.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Shanghai Gold Exchange operates a state-supervised, membership-based precious metals exchange providing centralized trading, clearing, settlement, and physical delivery for gold, silver, and platinum. Its core offering spans Physical (Matching) Trading with T+0 settlement, Margin Trading via deferred T+D and T+N contracts, an OTC Market for bilateral spot/forward/swap/option trades, and a Leasing Market, all cleared through SGE as central counterparty and settled through SGE-certified vaults.

Product overview

Shanghai Gold Exchange operates as a comprehensive precious metals trading platform with multiple interconnected market segments. The core offering includes Physical Trading (full amount spot trading with T+0 settlement), Margin Trading (T+D and T+N deferred contracts supporting physical settlement or rollover), OTC Market (bilateral spot/forward/swap/option trading), and Leasing Market (gold leasing and physical transfer services). Supporting data products include the Shanghai Gold and Silver Benchmark Prices, market data licensing programs, and daily/monthly trading reports. The platform was established in 2002 and expanded internationally in 2014 with Shanghai Gold Exchange International (SGEI).

Differentiator

Problem solved

Functional benefit

Products and services

• Physical Trading (Matching Market)
• Margin Trading (T+D and T+N Contracts)
• OTC Market
• Leasing Market
• NYAuTN06 and NYAuTN12 (Shanghai Gold T+N Dollar Products)
• PGC30g (Panda Gold Coin 30g)
• Shanghai Gold Benchmark Price
• Shanghai Silver Benchmark Price
• Market Data Licensing
• Daily and Monthly Trading Reports

Quantifiable outcome

• Gold trading volume of 5,521.8 tonnes in May 2026, up 2.8% year-on-year
• +1 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and major.

• Bank of CommunicationscoreStrategic or Co-development Partner · 22 June 2026Bank of Communications and SGE signed a memorandum of cooperation to deepen business collaboration in gold market services, capital clearing and settlement, and delivery and storage management. Both parties discussed establishing an 'exchange-counter linkage' cooperation mechanism and reached consensus on promoting market innovation to better serve market entities and support Shanghai's development as an international financial center.
• Industrial and Commercial Bank of China (Asia) LimitedcoreChannel Partner/ Reseller/ Distributor · 15 May 2026ICBC (Asia) was officially admitted as SGE's International Member, enabling the bank to provide intermediary services for precious metals trading on behalf of its clients through the Shanghai Gold Exchange platform.
• Hong Kong Financial Services and Treasury BureaucoreStrategic or Co-development Partner · 27 January 2026Cooperation agreement signed between Hong Kong's Financial Services and Treasury Bureau and SGE to strengthen Hong Kong's role as an international gold trading hub. The agreement supports cross-border gold trading infrastructure development and market connectivity between mainland China and Hong Kong.
• MKS PAMPmajorStrategic or Co-development Partner · 14 January 2026MKS PAMP CEO James Emmett participated in Asian Financial Forum panel discussing Hong Kong's evolving role in international gold market alongside World Gold Council, HSBC, and Bank of China (Hong Kong). Panel examined market connectivity and cooperation between mainland China and Hong Kong in precious metals sector.
• Singapore Bullion Market Association (SBMA)majorStrategic or Co-development Partner · 17 July 2025SBMA Chairman KL Yap and CEO Albert Cheng visited SGE to discuss latest trends in global precious metals industry and how Chinese and Southeast Asian gold markets can work together. Both organizations agreed to strengthen collaboration to seize growth opportunities and jointly build a healthy and stable global precious metals market.
• Shanghai Gold Exchange International (SGEI)coreStrategic or Co-development Partner · 26 June 2025SGEI was established in September 2014 as a wholly-owned subsidiary of SGE, registered in Shanghai Pilot Free Trade Zone with RMB 2 billion registered capital. SGEI is authorized to undertake international business operations, enabling foreign institutions to access China's precious metals market through one-stop services.
• Hong Kong Certified Vault InitiativecoreStrategic or Co-development Partner · 26 June 2025SGE launched International Board certified vault in Hong Kong to fulfill the 'Action Plan for Further Facilitating Cross-Border Financial Services in Shanghai International Financial Center.' Multiple domestic and foreign institutions successfully completed transactions on the first day.
• Australia and New Zealand Banking Group (ANZ)majorStrategic or Co-development Partner · 11 June 2025ANZ Managing Director Simon Ireland visited SGE to discuss cooperation. Chairman Yu expressed thanks for ANZ's long-standing support and looked forward to strengthening cooperation to advance high-quality development and high-level opening-up of China's precious metals market.
• Standard Chartered BankmajorStrategic or Co-development Partner · 17 March 2025Standard Chartered Co-Global Head Roberto Hoornweg visited SGE to discuss deepening cooperation. Chairman Yu emphasized SGE's commitment to market-oriented, law-based, internationalized strategy supporting RMB internationalization and Shanghai's international financial center development.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• CME Group (COMEX): CME Group operates the COMEX division, the world's largest gold futures and options market by notional volume. It is the most direct competitor to SGE because SGE's Au(T+D), NYAuTN, and OTC products are explicitly cross-referenced against COMEX gold pricing (NYAuTN settles on COMEX Gold Futures Asia Spot Price), making the two venues directly competitive for global gold derivative flow.
• London Bullion Market Association (LBMA): LBMA sets the LBMA Gold Price benchmark, governs Good Delivery wholesale standards, and operates LPMCL clearing for OTC gold. It is the most direct peer to SGE because both serve as physical wholesale infrastructure for global gold, and SGE is positioning the Shanghai benchmark as an Asia-session alternative to LBMA pricing.

Broad incumbents

• ICE Futures (Intercontinental Exchange): ICE operates futures and OTC markets across multiple asset classes including precious-metals contracts in Europe and the US. It overlaps with SGE's OTC product suite (forwards, swaps, options) and competes for institutional precious-metals clearing, though SGE's physical-settlement model differentiates its offering.

Regional players

• Multi Commodity Exchange of India (MCX): MCX is India's largest commodity derivatives exchange and offers the most-traded gold futures contract globally by volume. It is comparable to SGE as a regional precious-metals exchange focused on physical-delivered gold contracts and is often cited as the second-largest gold futures venue after COMEX.
• Dubai Gold & Commodities Exchange (DGCX): DGCX operates Middle East-based gold futures and Indian Onshore gold/inr contracts, serving institutional and retail demand in the Gulf region. It is comparable to SGEI as an emerging international board for non-Western participants seeking an alternative to LBMA/COMEX price exposure.
• Tokyo Commodity Exchange (TOCOM / JPX): TOCOM (now part of JPX) historically operated gold and platinum futures in Asia with strong Japanese industrial demand ties. It competes with SGE for Asian precious-metals benchmark influence and platinum contract flow, particularly given SGE's growing platinum and silver product suite.
• Singapore Exchange (SGX): SGX offers precious-metals derivatives and has positioned itself as an Asia-session offshore venue with strong commodity connections. It competes with SGEI for institutional flow and offshore clearing, particularly given the 2025 SGE-SBMA coordination to connect mainland China and Southeast Asian bullion markets.
• Hong Kong Chinese Gold & Silver Exchange Society: The Chinese Gold & Silver Exchange Society is Hong Kong's historic physical gold trading venue, anchored in local dealer communities. It is comparable as a regional physical-precious-metals venue now operating alongside SGE's newly launched Hong Kong certified vault, and both compete for cross-border Chinese gold trade.
• Bursa Malaysia (Bursa Gold Dinar): Bursa Malaysia operates Malaysia's only onshore gold trading platform as part of its broader commodities franchise. It is comparable as a regional Muslim-market gold venue that overlaps with SGEI's expanding Southeast Asia footprint, particularly given recent SGE-SBMA collaboration on cross-border Islamic gold flows.

Others

• World Gold Council (WGC): The WGC is the industry-association and benchmark-development body for the gold market and operates the LBMA Gold Price together with ICE Benchmark Administration. It is comparable to SGE in shaping global gold-market infrastructure and policy, although it is not an exchange operator; both organisations engage directly with central banks and major institutional members.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shanghai Gold Exchange