Founded in 1910, the Chinese Gold and Silver Exchange Society (“CGSE”) is the sole exchange in Hong Kong which trades physical gold and silver, and operates in pursuance of section 3 of Chapter 82 of Laws of Hong Kong, under which its operation as a commodity exchange is legally exempted. Run on a membership-based system, CGSE now has 171 Members and is managed by the Executive and Supervisory Committee, which comprises 21 Directors and Supervisors. The mission of CGSE is to provide an exchange, facilities and related services to its Members for the transaction of precious metals, such as gold and silver. CGSE trades 99 Tael Gold and Kilobar through an open outcry system; and Loco London Gold / Silver Contract, RMB Kilobar Gold, HK Dollar 999.9 Tael Gold and HK Dollar Loco Silver 1 through “Electronic Trading Platform”. “Transaction Code” is also provided to parties in the transactions. In order to tie in with the internationalised standards and requirements of precious metal industry, CGSE set up a modernised assay centre - "Hong Kong Precious Metals Assay Centre", which obtained the qualification of the accredited laboratory under "Hong Kong Laboratory Accreditation Scheme" of the Hong Kong Accreditation Service. Moreover, in order to facilitate the implementation of “Practitioners’ Registration System”, CGSE has conducted the course on “Certificate in Gold and Silver Markets” in collaboration with the Hong Kong Securities Institute and published "Study Learning Manual" to enhance practitioners’ professional knowledge about precious metals markets and their integrity.