LBMA Annual Report 2024

Membership and Engagement

Interest in LBMA Membership from around the globe remains high. Building on the record numbers achieved last year, Membership has grown by a further 6.8% to 172 companies engaged either directly or indirectly with the Global OTC Market.

While there has been some growth in Members from the Americas, the largest growth this year was from the UK and Europe region, which saw an 11% increase. Alongside this, there has been significant reinforcement of LBMAs compliance structures and capabilities to maintain and monitor compliance with the Rules for Members and the Global Precious Metals Code.

With a growing Membership comes the need to invest in the systems and processes necessary to engage effectively with Member and stakeholders alike. To achieve this, LBMA has invested in a new Customer Relationship Management system and has rolled out a new Members and Stakeholders Portal. The service is still available through the same MyLBMA link on the LBMA website, but the experience has now been enhanced to provide greater information services.

Member Satisfaction

Member Satisfaction Reaches 70% Overall - A Strong Foundation for Growth

This year’s Member Survey revealed exciting progress: 70% of respondents reported satisfaction, reflecting a solid foundation for ongoing improvement. Members recognised LBMA’s strengths in advancing regulation, sustainability, physical and financial market enhancements, and building strategic partnerships - showing that our efforts to drive meaningful change are paying off.

Training

Earlier this year, LBMA conducted virtual training for seven central banks, with 15 attendees, focusing exclusively on the Loco London market. The course provided portfolio and reserve managers with a comprehensive understanding of gold trading infrastructure, clearing and settlement processes, and the role of Good Delivery standards.

This initiative reflects LBMA’s commitment to educating key stakeholders, enhancing market transparency, and promoting best practices within the global bullion market. By equipping Central Banks with this specialised knowledge, we support the development of more efficient and informed market participants, strengthening the integrity and efficiency of the Loco London system.

Furthermore, more than 70 market participants benefited from LBMA’s regular training sessions covering Responsible Sourcing and the Loco London market throughout 2024.

Global Precious Metals Code

Current Members

Responsible Sourcing Newsletter

A Guide to the Loco London Precious Metals Market

Join Us in October for the LBMA/LPPM Global Precious Metals Conference 2025

Membership and Engagement

LBMA/LPPM Global Precious Metals Conference 2024

Member Satisfaction

Member Satisfaction Reaches 70% Overall - A Strong Foundation for Growth

Focus on What Matters Most

Powering Progress Through Partnerships

Training