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LBMA invites proposals on how to improve London's gold market
Why not start by getting rid of the LBMA?
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LBMA Invites Proposals on How to Improve London's Gold Market
By Eddie Van Der Walt
Bloomberg News
Friday, October 9, 2015
http://www.bloomberg.com/news/articles/2015-10-09/lbma-invites-proposals...
The London Bullion Market Association is inviting companies to submit proposals on how to improve the city's over-the-counter gold market.
The LBMA wants to study ways of boosting transparency, including more detailed reporting of trades, it said in an e-mailed statement. It also invited considerations for a new electronic platform that may lower costs and improve efficiency. The deadline for proposals is Nov. 16.
The request follows a study by Ernst & Young LLP that the LBMA commissioned earlier this year. The World Gold Council and five banks, including Morgan Stanley and Goldman Sachs Group Inc., are also assessing whether it makes sense to introduce standardized central clearing and listed derivatives.
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LBMA Asks for Bids to Provide Gold Trading, Clearing Services
By Clara Denina
Reuters
Friday, October 9, 2015
The London Bullion Market Association said on Friday it has formally asked exchanges and technology firms to bid for services such as a gold exchange or a clearing platform to make the London market more transparent and liquid.
"This is to investigate opportunities for greater market transparency through, for example, trade reporting and also increased trading efficiency via enhanced IT solutions," the LBMA said in a release.
Following 2014's shake-up of precious metals benchmarks, the LBMA commissioned consultancy EY to review the bullion market with a view to enhancing transparency and liquidity, while reducing costs. ...
... For the remainder of the report:
http://www.reuters.com/article/2015/10/09/lbma-gold-tender-idUSL8N1292MQ...
... For the LBMA statement:
http://www.lbma.org.uk/_blog/lbma_media_centre/post/lbma-issues-request-...
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