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LBMA Reports Increased Interest in Gold Market Transparency
Nov. 25, 2015 04:31PM PST
Precious Metals InvestingReuters reported that according to the London Bullion Market Association (LBMA), exchanges, brokers and data vendors are interested in making the gold market more liquid and transparent by providing clearing or reporting services.
Reuters reported that according to the London Bullion Market Association (LBMA), exchanges, brokers and data vendors are interested in making the gold market more liquid and transparent by providing clearing or reporting services.
As quoted in the market news:
Financial market transparency has been a major focus for regulators after evidence of price manipulation in lending rates between banks with the LIBOR scandal in 2012.
A clearing platform or an exchange could increase liquidity in the London gold market, and make it cheaper for users, analysts said.
Twenty entities have submitted 17 responses to a Request for Information (RFI) process, the LBMA said in a statement.
Two sources close to the process said an electronic platform to report gold daily turnover could be the first step towards making the London over-the-counter market more transparent.
