Edgewater Markets LLC joins LBMA as a Full Member
What were the reasons for you wanting to join LBMA and what do you see as the key benefits of membership?
Joining LBMA as a Full Member in 2024 was a natural progression for Edgewater Markets LLC. Since 2016, when Emanuel Georgouras (now our UK Chief Executive Officer) joined the firm as Managing Director and Head of EMEA, Edgewater has steadily built a strong presence in the precious metals market. This growth builds upon our core expertise in providing financial institutions with cutting-edge FX trading technology and deep liquidity pools. With the close support of our key metals counterparties and bullion bank partners, we have developed robust client flows in the sector. The timing was right to formalise our position in the industry through LBMA Membership, which enhances our credibility and underscores our commitment to the highest standards of integrity, security, and best practices in the global precious metals marketplace.
Emanuel Georgouras (UK Chief Executive Officer, Edgewater Markets LLC)
Tell us about your company’s role in the precious metals market?
Edgewater occupies a unique position within the precious metals market. Unlike a traditional retail broker or a pure electronic foreign exchange (EFX) provider, Edgewater operates at the intersection of a full-service FX brokerage and a bespoke trading technology firm, acting as both a liquidity consumer and provider. The firm delivers liquidity across all four precious metals, as well as in FX and non-deliverable forwards (NDFs), offering clients a comprehensive and integrated trading solution.
What’s the background and history of the company?
Edgewater was originally established as a spot FX business, spun out of a US-owned and backed futures brokerage. In recent years, the firm has evolved to include an FCA-regulated UK entity in its group, broadening its credit offering beyond traditional prime brokerage clients to now include institutional margin collateral clients. Today, Edgewater holds a leading position in the provision of spot precious metals and FX liquidity to the institutional electronic marketplace.
What factors do you expect to impact your business in the short to long term?
The ongoing impact of US tariffs under the Trump administration remains a key consideration across metals, equities, and the broader financial markets. The resulting liquidity constraint combined with sustained all-time highs have significantly accelerated Edgewater’s trading volumes, particularly in gold. However, as with most market disruptions, a period of normalisation is expected. The focus now shifts to anticipating the downstream effects of these market shockwaves as we move into the third quarter of 2025. Over the long term, we anticipate that metals prices will remain elevated as the USD weakens, albeit with a more moderate trajectory.
What are your future plans for the business?
Edgewater’s plan in the precious metals market is to organically grow into a Loco London physical offering at some point in the near future.
