Who Can Apply to Become an LBMA Affiliate Member
Affiliate Membership of the LBMA is available to a range of international market participants, service providers, technology providers, exchanges, intermediaries. It is also open to companies that are active in functions relevant to the London bullion market like mining, inspection, assaying and consultancy related activities. Logistics and vaulting companies who are not active in the Loco London Market may also apply for this classification of membership. Refiners who are interested in applying to become an Affiliate Member need to be accredited as a GDL Refiner before doing so.
Companies applying to be an Affiliate Member need to name three LBMA Members as attesters as part of their application. These should be companies with whom the applicant has had a bullion based business relationship for at least one year. LBMA will require each attester to supply a letter of recommendation, confirming the applicant's suitability for Membership, together with a description of the scope and duration of their bullion-based relationship.
You can find the list of attesters on the MyLBMA portal alongside additional details regarding the minimum level of attestation required, specific to your company type.
Affiliate Member Benefits
Affiliate Members have limited scope to attest to new applicants and, as they will not be active in the Loco London Market, are not eligible to trade under the terms of the Terminal Markets Order. Affiliate Members do have the right to vote at AGMs and to sit on LBMA Sub-Committees and Working Groups. However, this does not include the LBMA Board for which positions are solely for Full Members and Market Making Members. A range of other benefits are also available, including discounted fees for events such as conferences and forums organised by the LBMA, as well as access to publications, all of which foster good trading practices and communication.
Affiliate Member Reviews
Affiliate Members are reviewed periodically in line with the LBMA Due Diligence Policy. This process is designed to audit continued engagement with the Bullion Market and to ensure that Due Diligence standards are being maintained.
Full membership of LBMA is available to companies in the UK and abroad. All Members must be operational in areas that are closely related to the London bullion market.