9999 Kilobar Standard - Endorsed by LBMA & SGE
Wednesday, July 01, 2015
The LBMA is delighted to announce that it has agreed with the Shanghai Gold Exchange (SGE) to mutually recognise specifications for 9999 gold kilobars.
Download specification here.
These specifications have been created to facilitate efficient trading between Shanghai and other four-nines-gold markets. We are grateful to the SGE for their commitment and willingness to work with the LBMA in order to achieve this important standard for the global gold industry. This demonstrates the type of cooperation and ultimately mutual endorsement that we are striving to create between gold markets.
The kilobar standard focuses on the fineness of the gold and allows for the inclusion of all existing refiners current production, including all SGE and LBMA accredited refiners. It also streamlines the information on certificates of analysis to focus on the critical information required. We would hope that this joint recognition of a single standard will greatly assist our mutual members trading in Shanghai and in other 9999 kilobar markets around the world.
This initiative follows the successful LBMA Bullion Market Forum which was held in joint association by the LBMA and the SGE in Shanghai on 24-25 June. This event was attended by 364 delegates from 21 countries, including both the local Chinese and international markets.
LBMA Media Contacts:
+44 20 7337 9786