Daily data empowers market participants to gauge the precious metals market
NEW YORK and LONDON, July 09, 2019 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq:NDAQ) and LBMA today announced an expansion of data available to the precious metals market, providing greater transparency to this important industry. The LBMA-i Service has been expanded to include daily market information on platinum and palladium, joining existing daily data sets for gold and silver. All market participants now have access to data that provide comprehensive views of the precious metals market on a daily basis.
LBMA-i was formed in direct response to the demand for a simplified and cost-effective reporting service covering precious metals trading that improves transparency, generates liquidity and meets regulatory demands. The online service collates anonymous and aggregated trade volumes reporting data from LBMA members. The service offers a series of reports, available via subscription, carefully curated to allow market participants to gauge the size and shape of the precious metals market. LBMA-i began as a joint effort between the LBMA and Simplitium, a subsidiary of Cinnober, which Nasdaq acquired earlier this year.
"Nasdaq constantly strives to find new ways to make the global markets more accessible to investors," said James McKeone, Head of European Data for Nasdaq's Global Information Services. "By closely collaborating with LBMA on evolving and widening our services and access to unique precious metals market data, we are empowering investors in their decision making and improving the investment experience."
"Last week LBMA-i published the largest gold trading volume since the data was first published" said Ruth Crowell, CEO, LBMA. "Our collaboration with Nasdaq ensures that all stakeholders and interested parties have access to high-quality data on precious metals on a daily basis."
The daily reports are based on data traded on T+2 basis and covers gold, silver, platinum and palladium. LBMA-i also offers weekly reports. For more information, please visit www.lbma-i.com.
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 100 marketplaces in 50 countries. Nasdaq is home to over 4,000 total listings with a market value of approximately $14 trillion. To learn more, visit: https://business.nasdaq.com.
About LBMA: LBMA is the international trade association that represents the wholesale over-the-counter market for gold and silver bullion. LBMA undertakes many activities on behalf of its members and the wider market, setting industry standards including good delivery and refining standards, ownership of the precious metal benchmark prices as well as serving as a point of contact for the regulatory authorities. For more information, please visit www.lbma.org.uk.
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Source: Nasdaq, Inc.