SHANGHAI, March 21 (Reuters) - The Shanghai Futures Exchange
(SHFE) has released draft rules to allow extended trading
sessions for its futures contracts, with gold and silver the
most likely to be chosen for the pilot scheme, the official
China Securities Journal reported on Thursday.
The exchange now allows trading from 9:00 a.m. to 11:30 a.m.
(0100-0330 GMT) and from 1:30 p.m. to 3:00 p.m. (0530-0700 GMT).
The extended trading hours would close the gap between domestic
and international markets.
According to the draft rules, which are open to public
comment, the SHFE said extended trading hours would fall outside
those regular trading times. It did not elaborate on what times
the extended trading hours would be.
A lack of integration between Chinese and overseas exchanges
limits the influence of China - the world's top buyer of
commodities - on international commodities prices, which
therefore often fail to accurately reflect underlying Chinese
The exchange currently offers nine futures contracts,
including copper, aluminum, rubber, fuel oil, gold, rebar and
(Reporting by Melanie Lee; Editing by Chris Gallagher)