World Gold Council considers launch of new London exchange

Section:

By Henry Sanderson
Financial Times, London
Thursday, April 2, 2015

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-d858-11e4-8a68-00144feab7de.html



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