Societe Generale resigns as London gold and silver market maker
By GCRU Gold News on Wednesday, May 1 2019, 04:09 - Permalink
The London Bullion Market Association (LBMA) said Societe Generale had resigned as a market maker for gold and silver, as France’s third-largest bank pushes ahead with a downsizing of its commodities business.
Market makers commit to provide liquidity to the market. SocGen’s exit leaves 12 LBMA market-making banks including JPMorgan, HSBC and BNP Paribas.