LCH and LME to launch gold forward clearing
LCH.Clearnet and the London Metal Exchange have entered into a joint venture to launch clearing for London’s over-the-counter wholesale gold market. The service will be launched in November 2010. Trades will be executed as normal and will then be captured by the LME’s trade capture system, LMEsmart, before being sent to LCH.Clearnet for clearing.
Users will be able to offset margin calls with other LME metal contracts. Clearing will be available for OTC gold forwards from spot to 10 years. In the future, the firms hope to launch traded options on gold and forwards on silver, platinum and palladium, all of which will be priced in dollars.
EEX’s carbon volumes soar in JuneA total of 14.6m...