LME and World Gold Council launch LMEprecious

The London Metal Exchange and World Gold Council launched the LMEprecious trading platform on July 10 in London. The following is an edited amalgam of statements by the LME on the launch. LMEprecious has introduced exchange-traded and centrally cleared precious metal products to the London market. It comprises spot, daily and monthly futures for gold and silver. The contracts are designed to support regulatory change, enabling greater market transparency and access, as well as providing more robustness to the precious metals market. LME Gold and LME Silver futures provide opportunities for trading, price discovery and risk management, which creates an enhanced market structure for the precious metals community. “We and our partners have worked hard to develop contracts for the precious metals community that complement the OTC market while offering greater capital efficiency, transparency and accessibility to market participants,” LME precious metals head Kate Eged said. Continue reading at The Northern Miner.