LBMA News

LBMA-i

At the end of June, as the gold price hit a six-year high, the weekly total gold trading volumes for the week also hit a record high, with in excess of 227 mn oz ounces traded. This compares to the overall weekly average since November of 151 mn oz ounces and the latest 12-week moving average of 160.1 mn oz ounces. On 1 July, daily data for platinum and palladium were added to the suite of datasets that LBMA-i now offers subscribers. The LBMA-i service is provided by LBMA and Nasdaq, following the acquisition earlier this year by Nasdaq of Cinnober A.B. and its subsidiary, Simplitium Ltd.

Why The Data Is Important

LBMA-i market data makes it possible for market participants to gauge the size, shape and liquidity of the OTC market as represented by LBMA members. It also helps support LBMA’s dialogue with regulators on such matters as NSFR, where we are working closely with key stakeholders

2019 AGM

LBMA’s 31st Annual General Meeting took place at Glaziers Hall on 11 July. Details of the subcommittee and Chairman’s reports are available from our new portal, MyLBMA (see page 17 for details).

Annual Review 2019 Launched

The Review sets out the work that we have been doing over the last 12 months. In particular we are excited by the liquidity analysis on the new trade reporting data, which we have done, which shows that gold stacks up impressively compared to other asset classes classified as Extremely High Quality Liquid assets.

LBMA has also continued its work on ensuring integrity for the market with the expansion of its Responsible Sourcing Guidance to include Environmental, Social and Governance (ESG) issues.

As the conference heads to Shenzhen in October, LBMA has also increased its global engagement in Asia through, LBMA Asia. Broader industry engagement is crucial to LBMA’s success in fulfilling its mission to represent the interests of the global precious metals industry.

We held a Press Conference on the morning of the AGM to promote these key findings which was well received. You can find the Annual Review on our website but if you would like a hard copy please contact mail@lbma.org.uk

Susannah McLaren joins LBMA

LBMA is delighted to welcome Susannah to the team as LBMA’s new Compliance and Responsible Sourcing Manager. She manages LBMA’s Responsible Sourcing Programme for precious metals, which is mandatory for all LBMA Good Delivery List Refiners.

She is an expert in human rights and broader sustainability, with over 15 years’ in-house and consultancy experience in the field. As we welcome Susannah, LBMA would like to thank Simon Houghton-Dodd, who she has replaced, for all his hard work and wish him all the best for the future. LBMA’s 31st Annual General Meeting took place at Glaziers Hall on 11 July. Details of the subcommittee and Chairman’s reports are available from our new portal, MyLBMA (see page 17 for details).

Join The Lbma Price Auctions

The gold price celebrates its 100th birthday this year and we have a number of events planned in 2019 to mark the occasion – see page 7 for details. Back in 1919, there were just five participants in the auction, but since IBA became the independent administrator in 2015, the number has trebled to 15 participants (and 12 for silver). As we look to the next 100 years of the gold price, LBMA would encourage any interested members or Associates to join the auctions, using the contact details below. • Gold or silver price auctions, ICE Benchmark Administration: IBA@theice.com or +44 (0)20 7429 7100, or • Platinum and palladium auctions, LME: market.access@lme.com or +44 (0)20 7113 8888.

102 Accredited Refiners

We now have 102 refiners on the Good Delivery Lists, with 67 listed for gold, 83 listed for silver and 48 refiners on both lists.

Gold And Silver

Held in London Vaults As at the end of March 2019, there were 7,671 tonnes of GOLD, valued at $319.5 billion, and 36,195 tonnes of silver, valued at $17.6 billion. This equates to approximately 613,696 gold bars and 1,206,499 silver bars.

Lbma Members

We currently have 143 member companies – 87 Full Members (including 12 Market-Making Members and 12 Affiliates), 3 Exchange Affiliates and 53 Associates.