Five banks open up trillion dollar gold club
By GCRU Gold News on Thursday, March 8 2018, 01:54 - Permalink
The five banks that settle every transaction in London’s $6.8 trillion a year gold market are changing the rules of their clearing house to make it easier for newcomers to join.
The reform is part of a broad overhaul of institutions that underpin the world’s largest bullion trading center to make them more transparent after accusations of price manipulation by banks and traders and pressure from regulators.