Shanghai futures bourse releases rules on extended trading sessions
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 demand.
The exchange currently offers nine futures contracts, including copper, aluminum, rubber, fuel oil, gold, rebar and zinc. (Reporting by Melanie Lee; Editing by Chris Gallagher)
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