SMM:, INTL FCStone today (NASDAQ: INTL) announces that its London-based subsidiary INTL FCStone Ltd. Become one of the first liquidators to join the newly established LME Precious Metals Service on the London Metal Exchange. The London Metal Exchange, the World Gold Council and a group of industry participants have created the LME Precious Metals Service to introduce exchange-traded London precious metals products.
The LME Precious Metals Service offers spot prices and daily and monthly futures for gold and silver (up to five years), providing market participants with greater choice and modernizing the gold and silver markets. To better reflect the needs of global participants. Gold and silver reserves in London provide an effective solution between LME members and OTC market deliveries.
Today, Barry Canham, global head of metals at, INTL FCStone, commented, "there is a specific market demand for LME gold and silver futures, and we are pleased to be an early adopter of LME. As one of LME's market insider members, we will further serve our customers by enhancing our growth and risk management strategies, while consolidating our position as a global leader in the precious metals industry. "
Robin Martin, head of Market Development at LME, said: "given INTL FCStone's extensive experience in precious metals trading, we welcome it as our latest LME Precious Metals member and we hope to further expand our product market. "LME has been the liquidity centre for metals around the world, and the precious metals service is an important step in building a strong relationship in the precious metals sector."
About INTL FCStone Ltd.
INTL FCStone Ltd ("IFL") is a wholly owned subsidiary of INTL FCStone inc. (INTL). IFL is registered in England and Wales and is authorized and administered by the Financial Conduct Authority. INTL FCStone inc. Through its subsidiaries, it has become a leading global provider of financial services execution, risk management, market intelligence and post-transaction services.
The company has more than 20,000 customers in 130 countries on five continents, including producers, processors and end-users of almost all major traded commodities, as well as asset management companies. Introducing brokers, insurance companies, brokers, institutional and retail investors, commercial and investment banks, as well as governmental, non-governmental and charitable organizations, The products and services provided to them span five market segments: commercial hedging, global payments, securities, physical goods, clearing and enforcement services.
IFL's head office, INTL FCStone inc.. Is a New York-based Fortune 500 company listed on NASDAQ under the symbol "INTL".
Translated by Zhang Jingye, (SMM) of Shanghai Colored Network
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