Shanghai Metal Exchange
Encyclopedia
Shanghai Metal Exchange (SHME), one of the national level futures exchange
s of China
, was established on 28 May 1992. SHME is a non-profit, self-regulating corporation. The exchange was created for trading in non-ferrous metal
s and currently contracts for several non-ferrous metals including copper
, aluminum, lead
, zinc
, tin
, and nickel
.
SHME is located in the city of Shanghai
and its geographical location bridges the time gap between London Metal Exchange
and New York Mercantile Exchange
markets, thus enabling traders across the world to have a 24-hour access to futures contract
s of non-ferrous metals. SHME is currently the largest non-ferrous metals futures exchange in China and the third largest exchange of its kind in the world.
Futures exchange
A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts; that is, a contract to buy specific quantities of a commodity or financial instrument at a specified price with delivery set at a specified time in the future. These types of...
s of China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, was established on 28 May 1992. SHME is a non-profit, self-regulating corporation. The exchange was created for trading in non-ferrous metal
Metal
A metal , is an element, compound, or alloy that is a good conductor of both electricity and heat. Metals are usually malleable and shiny, that is they reflect most of incident light...
s and currently contracts for several non-ferrous metals including copper
Copper
Copper is a chemical element with the symbol Cu and atomic number 29. It is a ductile metal with very high thermal and electrical conductivity. Pure copper is soft and malleable; an exposed surface has a reddish-orange tarnish...
, aluminum, lead
Lead
Lead is a main-group element in the carbon group with the symbol Pb and atomic number 82. Lead is a soft, malleable poor metal. It is also counted as one of the heavy metals. Metallic lead has a bluish-white color after being freshly cut, but it soon tarnishes to a dull grayish color when exposed...
, zinc
Zinc
Zinc , or spelter , is a metallic chemical element; it has the symbol Zn and atomic number 30. It is the first element in group 12 of the periodic table. Zinc is, in some respects, chemically similar to magnesium, because its ion is of similar size and its only common oxidation state is +2...
, tin
Tin
Tin is a chemical element with the symbol Sn and atomic number 50. It is a main group metal in group 14 of the periodic table. Tin shows chemical similarity to both neighboring group 14 elements, germanium and lead and has two possible oxidation states, +2 and the slightly more stable +4...
, and nickel
Nickel
Nickel is a chemical element with the chemical symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a slight golden tinge. Nickel belongs to the transition metals and is hard and ductile...
.
SHME is located in the city of Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
and its geographical location bridges the time gap between London Metal Exchange
London Metal Exchange
The London Metal Exchange is the futures exchange with the world's largest market in options, and futures contracts on base and other metals. As the LME offers contracts with daily expiry dates of up to three months from trade date, along with longer-dated contracts up to 123 months, it also...
and New York Mercantile Exchange
New York Mercantile Exchange
The New York Mercantile Exchange is the world's largest physical commodity futures exchange. It is located at One North End Avenue in the World Financial Center in the Battery Park City section of Manhattan, New York City...
markets, thus enabling traders across the world to have a 24-hour access to futures contract
Futures contract
In finance, a futures contract is a standardized contract between two parties to exchange a specified asset of standardized quantity and quality for a price agreed today with delivery occurring at a specified future date, the delivery date. The contracts are traded on a futures exchange...
s of non-ferrous metals. SHME is currently the largest non-ferrous metals futures exchange in China and the third largest exchange of its kind in the world.
See also
- List of futures exchanges
- List of stock exchanges
- List of stock market indices
- Hong Kong Exchanges and ClearingHong Kong Exchanges and ClearingHong Kong Exchanges and Clearing Limited , also 香港交易所 or 港交所; abbreviated as HKEx; ) is the holding company for The Stock Exchange of Hong Kong Limited , Hong Kong Futures Exchange Limited and Hong Kong Securities Clearing Company Limited...