The Shanghai Futures Exchange released the revised Trading Rules of the Shanghai Futures Exchange on 11 September 2026, to take effect on 14 September 2026. The circular records that the revision was adopted by the Exchange’s Board of Directors and reported to the China Securities Regulatory Commission, and publishes the change set as an annexed comparative table alongside the consolidated revised text. It also states that where the English and Chinese versions differ, the Chinese version prevails.
The Gold Futures Rules of the Shanghai Futures Exchange are a separate instrument, carrying a 1 January 2026 date on the Exchange’s published rule index, and this circular does not release them. The Trading Rules are the general trading-side document; options run under the Options Trading Rules, clearing under the Clearing Rules, and conduct under the Administration of Abnormal Trading Behaviors Rules. What metal is deliverable against a Shanghai gold contract, which refiner marks are registered, which warehouses are certified and how a standard warehouse warrant is issued sit outside the revised text, in the product rules and the Exchange’s delivery framework. A counterparty tracking Shanghai deliverability through the Trading Rules is reading the wrong instrument, before and after 14 September. Where a compliance file cites SHFE rules, the circular’s own language makes the English release a translation, and the citation holds only as far as it is reconciled against the Chinese text. The comparative table carries the revision against the previous consolidated version, so it is the annex to work from rather than the consolidated text. 14 September 2026 is a Monday and the first trading day after release, so one non-trading weekend separates publication from application.
The circular releases the Trading Rules alone. Contract terms for gold and the delivery framework sit in their own instruments, and the Exchange operates under the China Securities Regulatory Commission.