World Gold Council considers launch of new London exchange

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Published : April 03rd, 2015
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Category : GoldWire

The gold industry's leading trade body and half a dozen banks have agreed to explore the idea of establishing an exchange in London as the existing market faces greater regulation.

The World Gold Council, a group consisting of 19 gold miners, and at least five banks are participating in initial discussions, according to people familiar with the matter.

That could see a move from London's bilateral over-the-counter gold market, which has been criticised for its lack of transparency, to a centrally cleared market. The WGC has hired a number of consultants and spent the past six months pitching a business case for banks to consider the alternative trading infrastructure, the people said. ...

... For the remainder of the report:

http://www.ft.com/intl/cms/s/0/a4a28c1a-d858-...144feab7de.html

 

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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