LME pulls out of clearing OTC gold trades on lack of price data
By GCRU Gold News on Saturday, September 6 2014, 05:42 - Permalink
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.