LME, World Gold Council will launch precious metals trading platform in H1 2017

The London Metal Exchange and the World Gold Council (WGC) will launch a precious metals trading and clearing platform in the first half of next year, working with stakeholders including Goldman Sachs and ICBC Standard Bank.

The LMEprecious platform will enable users to trade spot contracts and daily and monthly futures for gold and silver, while options, and platinum and palladium contracts will also be offered in the future, the LME and the WGC announced on Tuesday August 9.
Alongside Goldman Sachs and ICBC Standard Bank, fellow stakeholders Morgan Stanley, Natixis, Société Générale and UK-based proprietary trading firm OSTC will act as market makers for the contracts, while LMEclear will act as the clearing house for the new platform.
The LME and the WGC are also in discussions with several other major financial institutions who have expressed interest in trading on the new platform, the partners in the project said on Monday August 8, ahead of the official launch of LMEprecious.

“This initiative brings further transparency and efficiencies to the London and global gold and silver markets and should benefit all users. We are thrilled to...


Mark Burton

August 09, 2016

00:01 GMT