LCH.Clearnet to accept gold as margin collateral

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

pmbug

pmbug

Your Host
Administrator
Benefactor
Messages
17,759
Reaction score
6,450
Points
268
Location
Texas
United-States
U.K.-based clearing house LCH.Clearnet Group Ltd. said Tuesday that it will accept gold as collateral for margin cover purposes starting Aug. 28.

The clearing house said the option would be available for members clearing over-the-counter precious metals forward contracts or precious metals contracts on the Hong Kong Mercantile Exchange.

The clearing house limited the amount of gold that could be used as collateral to no more than 40% of the total margin cover requirement for a member across all products and at a maximum of $200 million, or roughly 130,000 troy ounces, per member group.
Click to expand...

http://articles.marketwatch.com/2012-08-21/markets/33296795_1_precious-metals-total-margin-contracts

:popcorn:

Tradition.
 
You must log in or register to reply here.
Back
Top Bottom