FMSB Spotlight Review Precious Metals Market Post-Trade

Existing structure

Existing opportunities

Lessons from other asset classes

Leveraging technology

Introduction

Precious Metals Market Post-Trade Spotlight Review

Endnotes

1 Major Global Trading Hubs, World Gold Council, last accessed 8 June 2022 2 Precious Metals Market Structure, FMSB, November 2021 3  SWIFT history, SWIFT – The global provider of secure financial messaging services, last accessed 8 June 2022 4 The settlement period refers to the time period between the trade date and the intended settlement date (see Article 2(13) CSDR). Precious metals are officially settled the day the commodity is delivered.

7 SEC shortens settlement cycle for securities trades, Reuters, March 2017 8 Building the Settlement System of the Future, DTCC, September 2021 9 ECSDA: T+2 Settlement Smooth, Bloomberg Professional Services, November 2014 10 LBMA and WGC launch Gold Bar Integrity Programme, LBMA, March 2022 11  UK regulatory approach to cryptoassets and stablecoins: consultation and call for evidence, GOV. UK, January 2021

5 Loco London / Clearing, LPMCL, last accessed 8 June 2022 6 Challenges of Real-Time Settlement, DTCC, February 2021

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