Clearing Background

About the Figures

Figures for amounts cleared are collected monthly by the LBMA from the six members offering clearing services, which form a company called London Precious Metals Clearing Limited (LPMCL).

Three measures are taken separately for each metal: 

Volume:

the amount of metal transferred on average each day measured in millions of troy ounces

Value:

the value measured in USD, using the monthly average London pm fixing price for gold and the average London fixing price for silver

Number of Transfers:

 the average number recorded each day

Excluded are:

• Allocated and unallocated balance transfers where the sole purpose is for overnight credit. Physical movements arranged by clearers in locations other than London.

The six clearers are: 

• Barclays Bank PLC
• The Bank of Nova Scotia-ScotiaMocatta
• Deutsche Bank AG - London Branch
• HSBC Bank USA National Association - London Branch
• JPMorgan Chase Bank
• UBS AG

List of Custodians

The LPMCL recognises the following institutions as providing vaulting facilities for the storage of precious metals in London:
 

• *The Bank of Nova Scotia-ScotiaMocatta
• *Barclays Bank PLC
• *Deutsche Bank AG - London branch
• *HSBC Bank USA National Association - London branch
• *JPMorgan Chase Bank
•  *UBS AG
• Bank of England
• Brink’s Ltd
• Johnson Matthey PLC - Royston
• VIA MAT International Ltd

*PMCL Member
This list is reproduced with the permission of the LPMCL.