The Agency Gold Trading is a service where ABC trades gold in Shanghai Gold Exchange (SGE) on behalf of the customers. All the gold transactions are spot transactions settled centrally afterSGE closes. Customers may take delivery of physical gold as they need after buying gold.
Features
The Agency Gold Trading provides non-SGE members with a convenient way of gold trading. With this service, gold users may purchase raw gold in gold exchange; investors may gain access to gold markets and bring gold products into their portfolios so as to reduce portfolio risks by hedging nature of gold.
Procedures
1. The customer opens a margin account with ABC, enters into the Agency Gold Trading Agreement with ABC, and provides documents required for opening the account.
2. ABC applies to SGE for opening account for the customer.
3. After receiving the customer code assigned by SGE, the customer may instruct ABC to trade gold at proper time.
4. After SGE closes, ABC prints funds and inventory statements and completes funds settlement with the customer.
5. The customer may request delivery of physical gold after buying it.