LBMA membership continues to go from strength to strength as the Executive strives to reach out and engage with every sector of the global over-the-counter (OTC) market. The quality and availability of information and support to members and the market have been substantially improved, evidenced by the success of the LBMA webinar programme across 2020. LBMA has adjusted well to the COVID-19 situation, moving quickly from physical to virtual outreach across all market centres.

LBMA membership classifications have changed, driven by the members’ decision to adopt the new Articles of Association taken in October 2020. This represents the biggest shake-up of the membership offering since LBMA was formed in 1987. It delivers a more diverse and flexible membership structure, coupled with enhanced benefits and engagement opportunities across the whole membership structure. The key change is the replacement of the old Associate classification with that of Affiliate Member. Initially, all former Associates will be reclassified to the new Affiliate Member class.

Further information is available on our website and every Affiliate Member will be contacted separately to explain how the changes will affect them.

In June 2020, the LBMA Subscriber offering was launched. This offering is outside of our membership structure. It has been designed for organisations such as central banks, downstream multinationals, Fin Tech companies and others that want to keep up to date with the global OTC market, but do not necessarily have a direct bullion based relationship with its participants.

The LBMA Membership Rulebook was launched in April 2020 to provide a ‘onestop shop’ for new and existing members on how LBMA regulates its membership to ensure the highest standard of transparency and quality assurance for the precious metals market. The adoption of the new Articles of Association will require a substantial rewrite of these Rules and these will shortly be put to the membership for consultation prior to adoption. Until then, interim guidance has been made available on our website. Members and prospective members can seek clarification on matters pertaining to their membership by contacting


Designed for central banks, downstream multinationals, fintechs and others, wanting to keep up to date with the precious metals – and play a part towards shaping its future.

Market development – Gain insight and participate in working groups to support market development initiatives. Including the work on Gold Bar Integrity, Digital Gold and Responsible Sourcing.

Have a seat at the table – Shape the future direction of the precious metals market via the development of global standards and solutions.

Grow your network – Discounts on LBMA events and training, platforms (Global Precious Metals Conference, Seminars, Assaying & Refining Conference, Vault Operators Training etc.)

Information services – Stay up to date with advice and guidance on a range of market topics, currently only available to Members.

As part of the LBMA Strategy to expand its offering to members and the wider OTC precious metals market, two new training packages have been launched. In April 2020, the Vault Operator Training e-platform was launched to offer the opportunity to learn the skills that underpin the gatekeeper function of the London market. In July 2020, the An Introduction to Loco London virtual training course was launched, and it has proven to be a huge success, receiving excellent reviews from a diverse range of delegates. Plans are already in place to create and deliver a follow-on course, Using Loco London, in early 2021. For more details, go to the events page on our website:


An integrated learning platform with an e-learning course that provides access to the learning resources and assessment tools necessary to ensure that your vaulting services operate at the same high standards as the London Vaults.


Developed and tested with vaults, it allows vault staff to demonstrate their capabilities across seven e-learning modules:

Receiving a shipment
Understanding LBMA resources
Unpacking, verifying, weighing and storing bullion
Databases and spreadsheets
Manual handling
Preparing and packing bars
Facilitating bar audits


Expand your business understanding of how the Loco London market works

A course provided by LBMA and designed specifically to get you up to speed if you:

  • Have exposure to precious metals and need to understand how the market operates and how to manage risk.
  • Interact with the precious metals markets in any way and would like to understand
    more about how they work.
  • Have recently joined an LBMA member organisation, or transferred to the precious metals area from another part of that organisation.

What you will learn:
How the global precious metals market, centred in London, operates.
How the clearing and settlement process functions.
How the Good Delivery Lists assure metal quality.
How the precious metals auctions work and how to use bullion derivatives.