Annual Report 2021
Physical Market Enhancements
Business Continuity
It has been a challenging and busy year, but ultimately a successful one, with a full agenda during a time with restrictions in place due to the pandemic. We have continued engaging with key stakeholders to support their Business Continuity Plans.
Good Delivery Applications, Proactive Monitoring, Responsible Sourcing audits and key projects, such as the Security Feature Standard and Referees Expansion, have either resumed or are in the process of being restarted.
We have continued to work closely with the CME to ensure that the London and New York markets operate efficiently – specifically, regarding the acceptance of silver London Good Delivery bars onto COMEX. Earlier this year, CME announced a Rule Amendment, effective from 27 September, that silver bars without weight stamps would be acceptable provided they have been weighed by an LBMA Approved Weigher.
New listings
Silver:
- Portovesme s.r.l
- ABC Refinery (Australia) Pty Ltd
There continues to be a strong interest to list from China, for both silver and gold. The pending applications are from various regions and mostly from silver refiners.
There are now 101 Refiners on the Good Delivery Lists (GDL).
We have 69 refiners listed for gold, 82 listed for silver and 50 appear on both Lists. There remains a large number of refiners attempting to get their brand onto the Lists and there are currently eight active applications, with half that number pending.
There have been no removals; however, there has been one suspension due to an ongoing Incident Review Process.
