LBMA Launches Strategic Bullion Market Review
Monday, April 27, 2015
The London Bullion Market Association has commissioned EY to undertake a study of the London bullion market and to prepare recommendations for the continued development of the market.
The aim of this strategy work is to identify opportunities for market efficiency and evolution, while increasing transparency and liquidity in line with the Fair and Effective Markets Review (FEMR) launched by the Bank of England, HM Treasury and FCA which is due to report in June. In August 2014, FEMR made recommendations to regulate a further seven major UK based benchmarks, including those for the LBMA Gold and Silver Prices, which subsequently became regulated.
Within the core parameters of enhancing liquidity and transparency, the study will consider a range of options for the benefit of the bullion market.
“I invite participants from the global bullion market to engage in the LBMA’s Strategy Study. EY brings momentum and independence to this work which started in 2014,” said Ruth Crowell, CEO of the LBMA. “We’re looking forward to receiving the report in the summer and sharing the recommendations and findings with Members and global market participants.”
Martin Watkins, FinTech Director and EMEIA Co-Head of Exchanges and FMI at EY, comments “Many of the most exciting advances in technology are coming from the London fintech market. In order to make sure that London remains central to the international precious metals market and that the existing liquidity is maintained or enhanced, it’s going to be important to assess how the rapid evolution of trading technology and the rampant innovation in fintech can be leveraged for the good of the market and drive the future evolution of the LBMA and the wider London bullion market.”
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