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China to launch silver futures on May 10

May. 7, 2012 (China Knowledge) - The China Securities Regulatory Commission on Friday announced the approval of the trading of silver futures contracts on the Shanghai Futures Exchange (SHFE).

The SHFE said in a statement published on its website that the trading will begin on May 10.

The silver futures will become the second noble metal futures on the domestic market after the gold futures.

The trading unit of silver futures is set at 15 kg per hand, with the minimum trading margin at 14% of the value of the contract on the first day of trading and 7% thereafter. On May 2, the SHFE launched silver future mocking trading.

The SHFE is also mulling carrying out night trading for noble metals, said an official with the exchange earlier.

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