Mr. JIAO Jinpu, Chairman of SGE (SHANGHAI GOLD EXCHANGE), visited MKS and PAMP last month after attending the LBMA conference in Barcelona. A delegation led by Mr. JIAO Jinpu, Chairman of SGE attended the LBMA/LPPM precious metals conference 2017 in Barcelona and then visited Switzerland to forge closer international cooperation. During the LBMA annual conference, the SGE delegation, together with delegates from China Gold Association (CGA) were invited to the China Summit. Mr. JIAO...
Mr. JIAO Jinpu, Chairman of SGE, visits MKS and PAMP in Switzerland
Mr. JIAO Jinpu, Chairman of SGE (SHANGHAI GOLD EXCHANGE), visited MKS and PAMP last month after attending the LBMA conference in Barcelona.
A delegation led by Mr. JIAO Jinpu, Chairman of SGE attended the LBMA/LPPM precious metals conference 2017 in Barcelona and then visited Switzerland to forge closer international cooperation. During the LBMA annual conference, the SGE delegation, together with delegates from China Gold Association (CGA) were invited to the China Summit. Mr. JIAO Jinpu introduced the recent developments of SGE and China’s gold market as a whole, and exchanged views on matters regarding precious metals code, responsible gold guidance and further future cooperation. The delegation also held talks with the CME group, SBMA, HSBC and Standard Chartered, touching upon issues regarding how to realize win-win outcomes by promoting the Shanghai Gold Benchmark and international board with joint efforts.
After the conference, Mr. JIAO Jinpu visited the MKS PAMP GROUP’s headquarters in Geneva, its refinery PAMP in Lugano and China Construction Bank Zurich Branch (CCBZB). Topics including wider references of Shanghai Gold Benchmark, product innovation, gold counterfeit technology and prospects of gold market were further tapped. Delegates from the SGEI, Delivery Department and General Office accompanied the visit.
Paytm partners with MMTC-PAMP to launch Digital Gold
Paytm, India’s largest mobile payment & commerce platform, has partnered with MMTC-PAMP, an MKS PAMP GROUP company, to launch Digital Gold. Digital Gold enables users to buy, store, sell and resell pure gold online instantly, as well as get it delivered to their home in the form of minted coins.
Speaking on the launch, Vijay Shekhar Sharma, Founder & CEO – Paytm said, “Gold is the preferred form of investment for Indians, and we are making it easier for our users to invest in gold digitally. With this product, our customers can buy and sell international quality gold at market-linked prices instantly. The goal is to offer complete flexibility in deciding the amount they want to invest, and enable consumers to develop habit of saving regularly in digital gold for long-term wealth creation. We are confident that this solution will help millions of Indians to buy and sell 24K 999.9 pure gold with utmost confidence and security.”
Mehdi Barkhordar, Chairman at MMTC-PAMP India Pvt Ltd said, “As India's first and only internationally accredited gold and silver refinery, we are proud to be placing India in its deserved leadership position in the global bullion market. Our partnership with Paytm provides every Indian access to high quality, 24k 999.9 pure gold in a convenient and transparent manner.”
Indians currently hold more than 24,000 tonnes of gold worth $ 900 Bn as per World Gold Council estimates. Indian households bought more gold in 2016 than any other financial asset despite the challenges of buying pure gold and storing it. It is clear a large market for a product that combines convenience with affordability.
Paytm is India’s largest mobile payment & commerce platform. With the current user base of more than 200 million, Paytm is on a mission to bring half a billion Indians to the mainstream of the economy using mobile payment, commerce and soon to be launched payment banking services. Paytm is founded by Vijay Shekhar Sharma, and is the Consumer brand of India’s leading mobile internet company One97 Communications. Paytm is headquartered in the National Capital Region, India. The company’s investors include Ant Financial (Alipay), Alibaba Group, SAIF Partners and Mediatek.
A joint venture between PAMP SA Switzerland and MMTC Ltd, a Government of India undertaking, MMTC-PAMP combines Swiss standards and technical expertise with Indian heritage, to create its diverse range of world class products. The company is India's first & only internationally accredited refinery for Gold and is constantly setting new global benchmarks for purity standards, technical expertise, and product innovation.
Please click to access the Paytm Digital Gold presentation and Paytm Digital Gold portal.
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MKS receives accolades in China for best gold trading performance in 2016
Swiss-based gold trader MKS (Switzerland) SA has picked up first-place rankings from the Shanghai Gold Exchange (SGE), having been named the top gold trader and best international performer on the Chinese gold market in 2016.
The names of the best international traders on the Chinese gold market last year were announced on Monday in Shanghai, during a ceremony held at the Bund Hotel that brought together influential players from Asian financial markets.
MKS won twice in the Shanghai Gold Exchange’s rankings, first for the quality of its service and secondly for its performance last year. Specifically, it took home the following awards:
· 2016 Outstanding International Member
· 2016 Outstanding Trader Award
The Shanghai precious metals exchange has swiftly become a reference in the global market place for gold trading after forming as recently as 2011 and accepting foreign companies only in 2014. Today, it ranks as an alternative to the long-standing New York and London markets.
In his address, Mr Jiao Jinpu, SGE Chairman, stated “the ranking testifies to Swiss excellence in services provided and standards implemented”. He added: “We are especially pleased with our cooperation with MKS, which is strengthening the SGE’s internationalization process. Together, we are jointly promoting the development of China's gold market.”
Mr Marwan Shakarchi, Chairman of MKS (Switzerland) SA, had the following to say: “As a member firm of the Shanghai Gold Exchange, we are first and foremost honoured to participate in the development of the precious metals sector in China. These distinctions reflect our global commitment to federating our industry for the sake of the future.”
Companies part of the MKS PAMP GROUP have regularly received accolades around the globe, such as the prestigious LBMA Precious Metals Forecast Award in the Gold Category.
The full press release is available on website of the Shanghai Gold Exchange.
MKS (Switzerland) SA is a leading participant in all precious metals markets, providing financial, physical and trading services to a global client base. MKS is a member of all major exchanges as well as the most influential industry bodies. Please click on each logo below to review the details of our involvement.
Accreditations and Memberships
London Bullion Market Association
The LBMA benchmarks and regulates the acceptable requirements for large gold and silver bars through its regularly updated publication of the London Good Delivery Lists. These standards, recognized throughout the world, ensure that accredited refiners continue to maintain the high standards necessary for listing.
Shanghai Gold Exchange
Member since September 2014
The SGE is the main exchange for gold and silver in china it was founded in 2002 and organized by the PBOC. MKS (Switzerland) SA is a full International member of the Shanghai gold exchange. PAMP products are accredited Good delivery on the SGE.
Shanghai Gold Exchange Benchmark Price
Reference Price Member since April 2016
On April 19th 2016, a year and half after its birth in September 2014, Shanghai Gold Exchange (SGE) introduced the first yuan-denominated gold benchmark price in the world. MKS (Switzerland) SA took part in the benchmark as reference price member. SGE announced the list of 12 Fixing Members and 6 Reference Price Members along with 18 international consultants.
ASFCMP (Swiss precious metal industry association)
The ASFCMP is the Swiss precious metal industry association. Today, the private non-profit organisation has 15 members who are all involved in dealing in and processing precious metals. The purpose of the association is to contribute towards further development of the Swiss precious metal industry and to promote its members’ interests with regard to the general public, politics, and national, as well as international, regulatory authorities.
Swiss Trading and Shipping Association
STSA (Swiss Trading and Shipping Association) is the leading professional association for the trading and shipping of commodities in Switzerland. The Association contributes to the promotion of Switzerland as a center of worldwide know-how in the domain of international trade, and shipping and their financing. Therefore, STSA offers its members a unique platform, on which commodity trading companies can cooperate with their partners along the logistic chain.
CME Group - gold, silver, platinum and palladium
Non-clearing member since 1986
CME Group represents the merger of the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX), its commodity exchange division, and the Commodity Exchange, Inc. (COMEX).
MKS (Switzerland) SA is a leading participant in all precious metal markets, providing financial, physical and trading services to a global client base. MKS is a member of all major exchanges as well as the most influential industry bodies. Please click on each logo below to review the details of our involvement.
Accreditations and Memberships
MKS participates in the SGE Benchmark Price Launching Ceremony
On April 19th 2016, a year and half after its birth in September 2014, Shanghai Gold Exchange (SGE) introduced the first yuan-denominated gold benchmark price in the world. MKS (Switzerland) SA took part in the benchmark as reference price member.
Pan Gongsheng, Deputy Governor of the People’s Bank of China, Zhao Wen, Vice Mayor of Shanghai Municipal Government and over 300 delegates from World Gold Council, The Silver Institute, World Platinum Investment Council, major domestic and foreign gold producers as well as consumers and gold investment institutions attended the ceremony and witnessed the launching of the Shanghai Gold Benchmark Price.
The benchmark price will provide a fair and tradable yuan-denominated benchmark price to global investors. It will also provide market participants with a new product and a well-designed tool of risk management, which will improve the price discovery mechanism, and further accelerate the internationalization of China’s gold market. On the ceremony, SGE announced the list of 12 Fixing Members and 6 Reference Price Members, including MKS (Switzerland) SA along with 18 international consultants. The first Shanghai Gold Benchmark Price set at 256.92 RMB/g.