LBMA (London Bullion Market Association)
The London Bullion Market Association (LBMA) is a London-based international trade association that represents the wholesalein London. In other words, the LBMA coordinates the , as trading in that market is conducted amongst the members of the LBMA.
The London Bullion Market Association was established in 1987 by the Bank of England, combining the roles previously carried by the London Gold Market and the London Silver Market. It consists of over 80 members and over 60 associates located in more than 30 countries, which include bullion dealers, refiners, fabricators, traders and those providing storage services.
The LBMA represents its members, clears transactions in the gold market, creates trading documentation, offers vaulting services and fosters the development of good trading practices. It publishes the Good Delivery List which sets the benchmark for gold and silver metal bars across the world. Moreover, the London Bullion Market Association holds the intellectual property rights to London silver and gold fixes, which are managed by the Intercontinental Exchange through the ICE Benchmark Administration. The, officially called the LBMA Gold Price, is a key benchmark for pricing gold widely used by producers, consumers, investors and central banks across the world. The LBMA also organizes precious metals conferences, publishes the Alchemist, the quarterly journal about the bullion market, and provides clearing statistics. It used to quote (which were used to derive gold lease rates), but this dataset was discontinued on January 30, 2015.
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