Links:
- LBMA Good Delivery List - Rules
The list of Acceptable Refiners of gold and silver bars, the "London Good Delivery List", has been developed and is maintained by The London Bullion Market Association (the Association) in order to facilitate the international distribution and acceptability on technical grounds of standard bars produced by those Refiners who
(a) meet the criteria for inclusion in the list, and
(b) whose products have passed the testing procedures laid down from time to time by the Association.
Standard bars are bars of approximately 400 fine ounces troy for gold and approximately 1000 ounces troy for silver. Bars are listed at the discretion of the Management Committee of the Association which reserves the right to make any investigations into an application which it deems appropriate.
Accreditation to the list relates to one Refinery at one specific location. Separate applications are required if an Applicant wishes to register bars produced at Refineries situated in different locations.
- The London Bullion Market Association
London is the global clearing centre for gold and silver in much the same way that all US dollar transactions ultimately clear in New York or Japanese yen in Tokyo. Figures for amounts cleared are collected monthly by the LBMA from the eight clearing members.
Three measures are taken separately for each metal:
Volume: the amount of metal transferred on average each day measured in millions of troy ounces.
Value: the value measured in USD, using the monthly average London pm fixing price for gold and the average London fixing price for silver.
Number of Transfers: the average number recorded each day.
The figures include:
Loco London book transfers from one party in a Clearing Member's books to another party in the same Member's books or in the books of another Clearing Member.
Physical transfers and shipments by Clearing Members.
Transfers over Clearing Members' accounts at the Bank of England.
Excluded are:
Allocations for Clearing Members where the sole purpose is for over-night credit.
Physical movements arranged by Clearing Members in locations other than London.
The seven clearing members:
Credit Suisse First Boston/Credit Suisse First Boston Intl., Deutsche Bank AG, HSBC Bank USA London Branch, Morgan Guaranty Trust Company of New York, NM Rothschild & Sons Limited, The Bank of Nova Scotia-ScotiaMocatta, UBS AG.
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