OSTC participates in launch of LMEprecious
On Monday, 10th July, OSTC together with other founding members: Goldman Sachs, ICBC Standard Bank, Morgan Stanley, Natixis, Societe Generale, the LME, LME Clear and the World Gold Council joined in the successful launch of LMEprecious.
The founding members have committed to provide market making for the new precious metals initiative to include depth and coverage across the curve of both the Gold and Silver contracts.
OSTC Chairman, Jonny Aucamp, commenting on the success of the launch: “We were invited to join the initiative as a global leader in liquidity provisioning. Our business is based on partnerships with exchanges based on a mutual understanding of the need for quality liquidity to ensure stability and transparency in the market place. The LME, together with OSTC and the other founding members, were responding to market demand for a new venue offering the precious metals community new opportunities for trading, price discovery, risk management and an enhanced market structure. OSTC is fully committed to seeing this initiative succeed.”
OSTC is a significant participant in the world of exchange traded derivatives. Since its inception in 1999, it has grown steadily and currently operates from 13 offices in 8 countries trading on the world’s major futures exchanges. (http://www.ostc.com)
The London Metal Exchange (LME) is the world centre for the trading of industrial metals – the majority of non-ferrous on-exchange business is conducted on our markets. (https://www.lme.com/metals/precious-metals/lmeprecious/)
More about the launch available on Bloomberg: (https://www.bloomberg.com/news/articles/2017-07-09/gold-elites-challenged-by-base-metals-bourse-on-market-s-future)