LBMA reveal daily gold turnover data on London and Zurich OTC market for the first time in history

LBMA-i market data makes it possible for market participants to gauge the size and shape of the precious metals market for the first time in history. The data represent all LBMA Market Makers’ and some Full Members’ share of the Loco London and Loco Zurich OTC markets. Data is displayed as an average over a business calendar week, and will be released each Tuesday for the previous week.  Thereafter, daily data will be made available on a T+1 basis and can be licensed directly from Simplitium.

LBMA is now able to reveal the size of the LBMA membership’s share of the Loco London and Loco Zurich OTC market with daily average turnover for gold of $36.9bn and $5.2bn for silver. This equates to 30.2 million ounces for gold and 359.3 million ounces for silver. In future LBMA will be publishing gold and silver data on a weekly basis, each Tuesday at 9am.

The data represents the average taken over a five-day reporting week. It demonstrates the overall value of the OTC market, as represented by the LBMA Full members, and then a breakdown of the volume in spot, forward, swaps and loans/leases and deposit. The intention in Q1 2019 is to then move to daily reporting on a T+1 basis.

The publication of the Trade Reporting data through LBMA-i meets LBMA’s requirement to improve transparency and demonstrates liquidity in the global OTC precious metals market.

Not only does it tell us the true size of the market for the first time but the data will help form LBMA’s dialogue with regulators on matters such as Basel III’s Net Stable Funding Ratio.

Managed by Simplitium, the service collates anonymous and aggregated Trade Reporting data from LBMA members in the Loco London and Loco Zurich markets.

Source » LBMA

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