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Futures exchange to offer contracts for silver

By Gao Changxin in Shanghai ( China Daily ) Updated: 2012-04-26 08:09:06

The Shanghai Futures Exchange received regulatory approval on Wednesday to start trading in silver contracts, giving Chinese investors a new way to bet on the precious metal.

The lot size of the contracts was set at 15 kilograms and the lot prices will be allowed to fluctuate by 5 percent a day. The margin requirement was set at 7 percent and prices will be quoted in yuan. The minimum amount the prices will be allowed to fluctuate was set at 1 yuan (16 US cents).

The silver contracts are the first of their type to be offered in China. Before, investors had to use Shanghai Gold Exchange Ag (T+D) contracts to conduct certain transactions of the metal. They could also go to commercial banks to buy paper silver, which don't have to be delivered physically.

Futures exchange to offer contracts for silver

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