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About gold trading code
Shanghai Gold Exchange implements the system of one code for one account, so the gold trading code allocated by Shanghai Gold Exchange to you is totally unique and permanent. Please be sure to remember or keep your gold trading code properly.
If you do not have a gold trading code, you can sign the contract and subscribe agency precious metal business with the Bank, and Shanghai Gold Exchange will automatically allocate the code to you after the system confirms the account has been opened successfully.
If you have already had a gold trading code, you can enter your original code when filling in the personal information during the process of creating an account through personal online banking of PSBC after you confirm that the contract with the original account opening institution has been cancelled, or you can state your original gold trade in the account opening account when you open an account at the counter of PSBC.
About contract signing and cancellation: do the contract signing and cancellation take effective immediately?
A: After a customer signs or cancels the contract with the Bank, the contract will not take effective immediately pursuant to relevant regulations of Shanghai Gold Exchange.
Both contract signing and cancellation will become effective within T+2 days. The information of contract signing and cancellation will be updated in the system of Shanghai Gold Exchange at the day-end clearing.
Can I make the trading on the day when I open an account?
A: Pursuant to relevant regulations of Shanghai Gold Exchange, a customer can perform the trading normally on the third day after he/she signs the contract successfully.
Can I open an account on the day when I cancel the contract with other banks or the PSBC?
A: Pursuant to relevant provisions of Shanghai Gold Exchange, a customer cannot open an account on the day when he/she cancels the contract, he/she needs to handle the procedures for account opening at the PSBC outlet on the next day (please keep in mind that the trading period at night and that during the daytime on the second day are an entire trading day) after he/she cancels the account.
Can one trading account of agency precious metal trading account be bound with many savings accounts?
A: One customer can designate one PSBC savings settlement account to handle the precious metal agency business at the same time. However, you can initiate “Fund Account Change” to replace other savings settlement account under your name to handle the precious metal agency business.
What is the function of the “Contracting Information Change”?
A: It is used to change basic information relating to your precious metal agency trading account, like mobile number, address and email, etc. To facilitate your timely receipt of business SMS sent by the Bank, please change your information if you change the mobile number. Pursuant to relevant provisions of Shanghai Gold Exchange, a customer can modify his/her basis information after he/she signs the account with the Bank successfully.
What is the function of the “Fund Account Change”?
A: If you hope to use other PSBC savings settlement account in your own name to conduct the precious metal agency business, you can use the “Fund Account Change”. Before using it, you should confirm whether you have bought or purchased any gold or made entrusted application or successful trading on the day, if yes, please complete the trading on the next day.
Is there any concrete requirement for the new account if the “Fund Account Change” is used to change account number binding with the precious metal agency trading account?
A: You can handle the business at the counter or through personal online banking. If you log in the personal online banking to handle the business, you should confirm whether the new account has been enrolled as an online banking account. If no, you can initiate “My Account – Account Management – Create a New Account or Cancel the Account” to create another new account. When you use the “Fund Account Change”, you cannot enter the bank account number manually but select an account that has been registered through the personal online bank.
What’s the concrete function of “Member Announcement Inquiry”?
A: Through it, the Bank will publish the announcements of precious metal agency, like the announcements of Shanghai Gold Exchange, adjustment of margin proportion, adjustment of handling fee rate, system maintenance notices, changes of other system parameters and other notices. Please be sure to check and view timely!
How to know if I make money or suffer loss?
A: If you log in your account through online banking:
You can click “Investment & Wealth Management – Precious Metals – Settlement Inquiry – Daily-end statement data Inquiry” to initiate the daily-end statement data inquiry transaction and enter the corresponding date in the transaction date to inquire about your profit or loss.
If you log in your account through an independent trading client:
You can single click “Entrustment/Application” in the navigation bar on the left side and select the tab of customer’s fund stock and position to know about your profit or loss on the day.
Will the Bank notify me of the forced liquidation, if any? How?
When your risk status changes, the Bank will timely send a SMS about such change to the mobile phone number you reserved at the account application. If your risk status is absolute forced liquidation and fails to make up the maintenance margin, your risky position will be totally or partially liquidated on the next trading day in accordance with the trading rules of Shanghai Gold Exchange and relevant regulations of PSBC. Please make sure to watch the margin balance of your account!
If I have applied for drawing the gold, do I need to print out the gold delivery note?
A: The delivery personnel of the Bank will take the printed gold delivery note and treasury-out sheet to accompany you to make delivery, so you do not have to print the delivery note.
If the margin balance in my account is inadequate, but the binding savings account has sufficient balance, will my position be forcedly liquidated?
A: The Bank takes the dedicated account management to manage your precious metal agency trading account, that is to say, the Bank will manage your account separately. The binding savings account keeps abundant fund but your agency trading account incurs inadequate margin balance, the fund in your savings account cannot be automatically transferred to the trading account. So, you should perform the fund management well, reasonably control the position, timely watch the changes in margin balance available in your trading account and make up the margin or reduce the position in a timely manner.
When can I inquire about the settlement price or closing price of a day?
A: Settlement price is the volume-weighted average price of the striking price of a certain contract on an entire trading day. If no striking price is available on a trading day, the settlement price on the last trading day will become that on the current day, which is the benchmark to calculate the limit-up and limit-down band for the spot contract and the deferred delivery contract on the next trading day, and also the basis to calculate the profit or loss of an open contract of the deferred delivery contract on the current day.
Closing price is the weighted average price of the last five trading of a certain contract and is the benchmark to calculate the limit-up and limit-down band for the firm offer contract on the next trading day.
The settlement price or closing price of a day will be subject to those published by the Shanghai Gold Exchange. You can inquire about them by means of logging in the independent trading client or online banking, or direct logging in the office website of Shanghai Gold Exchange (http://www.sge.sh/).
How can I obtain the market information?
A: 1) You can inquire about the market information through independent trading client or online banking
2) You can directly log in the office website of Shanghai Gold Exchange (http://www.sge.sh/) to obtain the market information.
What should I do if the system reminds me of the following circumstances?
[I am not a member]
A: Pursuant to relevant regulations of Shanghai Gold Exchange, a customer can perform the trading on the third day after he/she signs the contract successfully. Please wait patiently.
[Contract is in status of discontinuous trading]
A: The current time is not the trading time of Shanghai Gold Exchange, so the application of an order is not allowed. The trading hours specified by Shanghai Gold Exchange are:
Tuesday – Friday: 20:50-02:30
Except the closing days as announced in the official website of Shanghai Gold Exchange.
[A trading is prohibited in the current system status]
A: Because the business system of the Bank makes the day-end clearing after the closing on the afternoon, the business you initiated is not allowed during the clearing hours. Please wait for a moment and try again.
[The account is in an abnormal status and the trading cannot be performed]
A: This is because your precious metal agency trading account has been cancelled or frozen due to some judicial reason. If you have cancelled it with the Bank, you should activate the account as per the procedures for account opening. If your account is frozen due to some judicial reason, please wait patiently until such freezing completes as stipulated by the judicial document.
[Deferred business is not contracted, so it cannot be performed]
A: Because your account is a spot-type account, it cannot be used to make the application for deferred contract. You can change your account as a general one to perform such trading.
If you are a personal customer, you need to sign relevant contract, risk disclosure statement and other materials at the PSBC counter to apply for the change of business type.
If you are a corporate customer, you can log in the online banking or an independent trading client to change the customer type.
[The current business variety is unavailable]
Business varieties offered by the Bank to personal customers include: Au100g, Au99.99, Au99.95, Au(T+D), Au(T+N1), Au(T+N2) and Ag(T+D).
Business varieties offered by the Bank to corporate customers include: Au100g, Au99.99, Au99.95, Au(T+D), Au(T+N1), Au(T+N2), Ag(T+D), Au50g, Ag99.9 and Ag99.99.
The Bank does not provide the neutral position declaration and silver delivery service, please forgive us.
If you keep a general account but are reminded of such error when you submit an order, and the trading rules of Shanghai Gold Exchange remains unchanged, please tell your customer manager about this problem as fast as possible or call 95580, the Bank will solve the problem as soon as possible.
[The settlement sheet of the last period is not confirmed, so the current trading is not allowed]
A: To control your position risk together with you, the system will prohibit the trading if you failed to confirm the settlement sheet of last period. You should view and confirm the daily-end settlement statement of last period at the counter or login of the independent trading client or online banking and other self-service trading channels.
[Trading failed, you cannot cancel the account on the day when the account is opened]
A: We are very sorry. But a customer cannot cancel the account on the day when he/she opens the account, he/she has to handle the procedures for account cancellation at the PSBC counter on the third trading day of account opening after Shanghai Gold Exchange confirms that the account has been opened successfully (please keep in mind that the trading period at night and that during the daytime on the second day are an entire trading day).