The transparency service for the precious metals market
LBMA-i was delivered to meet LBMA’s requirement for a trade reporting service that improves transparency and demonstrates liquidity in the global OTC precious metals market. Managed by Simplitium, the service collates anonymous and aggregated Trade Reporting data from LBMA members in Loco London and Loco Zurich.
LBMA members report their trading activity into the LBMA-i platform. The data collected forms a number of robust data sets which will be published in the second half of 2018. Not only will the true size of the market be known for the first time but the data collected will help form LBMA’s dialogue with regulators on matters such as Basle III’s Net Stable Funding Ratio.
It is mandatory for all full LBMA members to participate in LBMA-i by reporting their transactions and there are sanctions for companies that do not comply. In line with other trade reporting mechanisms, LBMA-i has established de minimis thresholds in order to be able to collect the majority of data, whilst allowing some smaller traders an exemption from reporting.
Meeting Regulatory Demand
Confidentiality & Reliability
Ensuring that the data submitted by the LBMA members is kept strictly confidential is paramount to effective trade reporting. LBMA-i’s ability to leverage Simplitium’s experience in trade reporting is key to its success. Simplitium has securely managed sensitive client data for over ten years, with 100% uptime and without a single incident, outage or loss of data.