London Metal's Exchange (LME)

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The London Metal Exchange’s gold and silver futures are being thrown into doubt, with the imminent resignation of Societe Generale as a market maker threatening to deepen a decline in trading activity, three sources said.

SocGen, one of five lenders that partnered with the LME to launch the contracts in 2017, is expected to resign shortly as a market maker, taking the number of banks committed to offering tradeable prices to two — Goldman Sachs and Morgan Stanley, the sources said.

That has triggered a discussion over the contracts’ future.

“There’s still commitment,” said one of the sources. But if volumes remain low, they added, “we’ll have to sit down and decide what is the next stage — exit, restructuring, or something else.”
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But even as a surge in gold prices this year pushes trading on CME Group’s New York COMEX market and the Shanghai Gold Exchange to record levels, turnover on the LME’s contracts, known as LMEprecious, has dropped.
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https://www.reuters.com/article/us-...t-as-societe-generale-pulls-out-idUSKCN1VP2H1

I'm not sure if this is really significant or not with respect to the overall gold/silver markets. Sounds like the LME has been declining into significance for a while. Maybe they shouldn't have engaged in shenanigans with the warehouses a few years back...
 
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