“Global Precious Metals Code” or “Code” has been developed to provide a common set of guidelines to promote the integrity of the wholesale Precious Metals market.
The Code would generally apply to the relevant Precious Metals
activity of:
LBMA Members;
Physical market (including but not limited to):
- Refiners;
- Mining companies;
Financial institutions (including but not limited to):
- Banks;
- Asset/fund managers;
- Firms running high-frequency trading strategies;
- Brokers (including retail Precious Metals brokers), investment advisers,
- aggregators and analogous Intermediaries/Agents);
Trading houses;
Central banks;
Sovereign wealth funds;
Logistics firms;
Fabricators;
Jewellery companies;
Benchmark execution service providers;
Affirmation and settlement platforms;
Benchmark process platform operators, i.e. LBMA Precious Metals prices.