Banks Said to Ask Exchanges for Views on London Gold Clearing
- Five banks and World Gold Council ask exchanges for proposals
- Group seeks views on central clearing, listing derivatives
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A group of five banks, including Goldman Sachs Group Inc. and Morgan Stanley, have asked exchanges for proposals on how to start standardized central clearing and listed derivatives for the London gold market, two people familiar with the matter said.
The request was this week sent to the London Metal Exchange, said the people, who asked not to be identified because the matter is private. It was also sent to the London Stock Exchange, Intercontinental Exchange Inc. and CME Group Inc., said one person. The letter was sent by the banks, which also include Societe Generale SA, ICBC Standard Bank Plc and Citigroup Inc., and the London-based World Gold Council.