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Exclusive: Five banks open up trillion dollar gold club

Reuters  |  LONDON 

By Peter HobsonLONDON (Reuters) - The five banks that settle every transaction in London's $6.8 trillion a year gold market are changing the rules of their clearing house to make it easier for newcomers to join. The reform is part of a broad overhaul of institutions that underpin the world's largest bullion trading centre to make them more transparent after accusations of price manipulation by banks and traders and pressure from regulators. As that pressure increased, the number of banks clearing gold transactions through a company they own called the London Precious Metals Clearing ...

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First Published: Thu, March 08 2018. 15:20 IST
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