Services for London’s precious metals markets
London is the hub of the international OTC market for gold and silver. The London bullion market is a wholesale market of global players, including most of the central banks that hold gold, plus producers, refiners, fabricators and other banks, traders and investors around the world.
Gold and silver clearing facilitation services
Members of the London bullion market trade with each other and with their clients on a principal-to-principal basis. This means that all risks, including those of credit, are between the two counterparties to a transaction.
The LME has entered into a joint venture with LCH.Clearnet to offer clearing facilitation services for the London OTC gold and silver markets. Clearing via a central counterparty such as LCH.Clearnet will allow OTC market participants to mitigate counterparty risk without having to change the way they currently negotiate and execute their contracts.
LBMA precious metals prices
At 17.00 LME collects gold and silver spot prices and forward rates. These are available from the LME list of licensed data distributors.