LBMA Subscriber

For organisations that want to keep up to speed with the market, becoming a Subscriber offers a range of benefits, including access to our information services.


LBMA Subscriber is designed for organisations such as central banks, downstream multinationals, fintechs and others that want to keep up to date with the Loco London Precious Metals Market, but don’t necessarily have a direct, bullion-based relationship with its participants.

Contribute to the future direction of the precious metals market via the development of global standards and solutions.

Advice, guidance and briefings on a range of physical, compliance and regulatory issues, previously only available to Members.

Discounts on LBMA events – including our annual Global Precious Metals Conference, Forums, and Assaying & Refining Conference.

Receive Members’ briefings, publications and our Members’ weekly newsletter.

Receive the member discount rate for LBMA’s training opportunities, including the Vault Operators training, An Introduction to Loco London and How To Use Loco London course, plus the Global Precious Metals Code training.

Categories and fees

Subscriber Only

This category provides access to the Subscriber benefits outlined above, with more to follow.

Good Delivery List (GDL) Licence Only

A GDL Licence provides organisations with the right to reference the Good Delivery List and Rules or any proprietary information they contain. Licensees also have access to LBMA’s Visual Guide for Defects and Imperfections in Good Delivery Bars, a vital tool for any institution that stores gold or wishes to check on the bars that it owns. Find out more.

Combined Licence and Subscriber

This combined offering includes the benefits of both Subscriber and the Good Delivery Licence.


The first annual fee is payable once your application is received. The subscription runs from 1 January to 31 December so fees will be adjusted pro-rata during the first subscription year. This subscription fee must be paid prior to the on-boarding process. The annual subscription fee may be subject to change. The fees for 2023 are:

Classification Subscriber Fee GDL Licence Fee License + Subscriber Fee
Global * £20,600 £20,000 £25,000
Regional ** £15,400 £20,000 £25,000
SME/Services *** £8,100 £10,000 £15,000

* Global: large organisations who are engaged in most or all major financial centres around the world.
** Regional: for all other organisations that conduct business primarily within their own country and/or region.
*** SME/Services: for small to medium sized enterprises (SMEs), not for profits and small consulting firms.

Subscriber status

Subscribers do not form part of LBMA’s membership and therefore do not have the same voting rights as Members and do not benefit from the Terminal Markets Order. Subscribers are also not permitted to use the LBMA logo or branding.

Application process

  1. Apply: submit an application using our online form.
  2. Review: LBMA sets and maintains high standards of integrity so all applications are subject to a due diligence process.
  3. Approve: the LBMA Executive Committee considers the application for approval.
  4. Subscribe: once an application has been approved, Subscribers are notified and invoiced their respective fees. On payment, LBMA’s membership services coordinator will make contact to start the on-boarding process.