Please click here to download the Guide to the London Precious Metals Market.
The purpose of this Guide is to explain the operation of the London precious metals markets.
It defines the principles upon which the markets operate, describes the facilities and products that are available, explains the way in which transactions are quoted and conducted and indicates the type of clients for whom the products may be appropriate. The credit risk or exposure involved between dealer and client in using individual products is also examined.
The Guide also introduces potential users to the marketplaces and the roles of the LBMA and the LPPM. It covers the support facilities of vaulting and clearing, the regulatory regime under which the markets operate and the standard documentation that supports them. Finally, it points to useful sources of further information. As an aid, a glossary of some commonly-used market terms is included as Appendix 1.