LME pulls out of clearing OTC gold trades on lack of price data

The London Metal Exchange (LME) will not provide clearing services for over-the-counter trades in gold from Sept. 22 after the London Bullion Market Association said its members would no longer supply price data for forward curves.

The LME said in a statement on Friday that it had been notified by the LBMA that the majority of its market-making members, which include Credit Suisse, UBS, and JP Morgan, could no longer contribute data for the purposes of calculating forward curves.

LME pulls out of clearing OTC gold trades on lack of price data