WELCOME TO LPMCL
COVID-19 Notice, last updated 9 December 2020
"The LPMCL is co-owned and operated by 5 clearing members, each of whom maintain Business Continuity Plans (BCPs) in accordance with regulatory requirements.
In the event of BCPs being enacted by any member, in a response to the spread of COVID-19, LPMCL clearing activities will continue in accordance with those plans.
All LPMCL Members will mutually cooperate on a best effort basis to provide a full reciprocal service, including but not limited to processing, weighing, allocation and storage.
In light of the continuing restrictions across the UK, LPMCL’s BCPs ensures the cooperation of the London vaults in the event of any closures."
LOCO LONDON is the indisputable international standard for gold, silver, platinum and palladium dealing and settlement.
In this context Loco London, simply refers to the fact that London is the location where precious metals are physically held and settled.
The metal leg of much of the global ‘over-the-counter’ precious metal trading is cleared through the London clearing system, managed by the London Precious Metal Clearing Limited (LPMCL), which operates a central electronic metal clearing hub, with deals between parties throughout the world settled and cleared in London.
The fact that many Government Institutions and Central Banks entrust their gold to the Bank of England, and in some instances with the London clearing commercial banks, underlines the confidence that exists in London as the key marketplace for precious metal trading.