LPPM

The London Platinum and Palladium Market (LPPM) is a trade association that acts as the co-ordinator for activities conducted on behalf of its members and other participants in the market. It acts as the principal point of contact between the market and regulators/other official bodies, such as Her Majesty’s Revenue & Customs (HMRC), and ensures the continued evolution and health of a marketplace for platinum and palladium in which all participants can operate with confidence.

A primary function of the LPPM is its involvement in the promotion of refining standards by maintenance of the LPPM Good Delivery List and a regime of Proactive Monitoring whereby refiners on the List have, under a continuous three-year rolling programme, their assaying ability independently tested in addition to being required to provide the LPPM, in confidence, with certain production and financial data.

In all these respects, it is very much a sister organisation of the LBMA except that its primary responsibility is for platinum and palladium rather than gold and silver. This close relationship is enhanced by cross-representation on each others’ Boards/Management Committees.

Members

There are two categories of membership of the LPPM, namely Full and Associate Members, in addition to which there is Affiliation for those organisations that do not qualify for membership but are involved in the platinum and palladium markets, as well as the newly created category of LPPM Affiliated Exchange.

Full membership of the LPPM is open to those companies that are recognised by the Management Committee as being currently engaged in trading and dealing in platinum and palladium, and that the LPPM also considers offer additional services in the market, such as market-making, clearing services, refining or manufacturing. All Founder Members of the LPPM are Full Members. Two Full Members are required as sponsors for Full membership of the LPPM.

Associate membership is open to companies in the United Kingdom that are recognised by the Management Committee as being currently engaged in trading and dealing in platinum and palladium, and have an appropriate level of experience and net assets, but do not provide the full range of services provided by Full Members. Two Full Members or one Full and one Associate Member are required as sponsors for Associate membership of the LPPM.