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LBMA names Citigroup as gold and silver market maker

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Chris Powell

GATA

Published : September 26th, 2014

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FOLLOW : Citigroup Gold Lbma London London Bullion Market Association Market Precious Metals Silver

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Category : GoldWire


	NEW YORK -- The London Bullion Market Association (LBMA) said on Thursday it appointed Citigroup as a market maker, underscoring the bank's ambitions to expand into the precious metals sector while others are exiting due to regulatory concerns. LBMA said it named Citibank, a unit of Citigroup, as a spot market-making member effective Thursday. Currently, LBMA has 12 market makers that serve in either one, two, or all three of the spot, forwards, and options markets. They make markets by quoting two-way prices in both gold and silver products to other market makers. ... ... For the remainder of the report: http://www.reuters.com/article/2014/09/25/lbm...SL2N0RQ2A820...

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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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