LBMA to start reporting OTC gold trade soon; exchange model seen as costly
By GCRU Gold News on Thursday, June 25 2015, 23:25 - Permalink
The London Bullion Market Association (LBMA) could soon take steps to report trades of the over-the-counter gold market, but the prospect of higher costs makes an exchange-traded model unattractive to participants for now, its chief executive said.
More than $5 trillion worth of gold transactions are made over the counter (OTC) in London every year. The OTC market, where trades are executed via dealer networks as opposed to a centralized exchange, exceeds the trading of gold futures.