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3. London Platinum and Palladium Market | LBMA Find out more Register for the Global Precious Metails Conference in Sorrento, Italy Global Global 中文網站 Contact About About About LBMA Our Team LBMA Board Independent Decision-Making Committee LBMA Sub-Committees Origins of the London Bullion Market History of Global Trade in Bullion Member login Market Standards Market Standards As the independent authority for precious metals, we set standards that uphold trust in the global market. Market Overview About Loco London A Guide to the Loco London Precious Metals Market Training and Education Our Standards Market Standards Global Precious Metals Code Good Delivery Responsible Sourcing Incident Review Process Regulation Resources Financial Regulation Due Diligence Regulation REACH Review Process Case Studies HQLA WGC and LBMA Launch Joint HQLA Website Gold and HQLA: Correcting Misleading Online Information LBMA Precious Metals Market Report Read about the latest quarter in the precious metals market Read now Membership Membership LBMA Membership demonstrates a commitment to uphold global standards within the precious metals market. Overview About Membership Current Members Rules for Members Become a Member How to Join Membership Eligibility Membership Benefits LBMA Subscriber Membership FAQs Already a Member? Login to stay updated with LBMA Member news and events Log in here Good Delivery Good Delivery The standard trusted around the world, Good Delivery guarantees metal quality in the market. LBMA owns and manages the Good Delivery Lists for both gold and silver. Overview About Good Delivery Good Delivery Rules and Governance Good Delivery FAQs Lists Good Delivery Current List Data Good Delivery Former List Data Russian Good Delivery Bars Information Application Process How to apply for Good Delivery accreditation Advancing Standards Proactive Monitoring Proficiency Testing Scheme Resources Reference Materials Vault Operators Training Visual Guide Physical Market Guidelines Past Assaying and Refining Conferences Good Delivery Newsletters GBI Gold Bar Security Features Gold Bar Integrity Ecosystem GDL Newsletter Read the latest newsletter from our Good Delivery team on Committee updates, refinery visits and more Read now Responsible Sourcing Responsible Sourcing All LBMA Good Delivery List Refiners must adhere to our Responsible Sourcing Programme. With annual independent auditing and public reporting, the Programme builds global demand for responsible sourcing. Overview Responsible Sourcing Approved Assurance Providers Overview Approved Assurance Providers LBMA's ASM Initiative Guidance & Tools Guidance Documents Refiners Toolkit Consultations Public Consultation: Responsible Gold Guidance Version 10 Disclosure Guidance Version 3 Resources International Bullion Centre Recommendations Introductory Training Module Responsible Sourcing FAQs Reporting Country of Origin Data Sustainability and Responsible Sourcing Reports Responsible Sourcing Newsletters Review Process Case Studies LBMA Position on
the North Mara Mine Claim Supporting Pathways for Responsible ASM LBMA’s new report explores the progress made between 2022-2025 to help build the foundations for greater inclusion of responsibly sourced ASM gold in formal supply chains. Read now Responsible Gold Guidance V10: Public Consultation RGG10 draws on implementation experience since the introduction of V9, developments in responsible sourcing practice, and LBMA’s commitment to continuous improvement. Discover more Responsible Sourcing Newsletter Summit discussions moved from dialogue to action, LBMA held its first in-person IBC roundtable, and a public consultation is launched on RGG10. Read now Pricing & Data Pricing & Data View information about LBMA prices and data. Overview About LBMA Daily Auction Prices LBMA Gold Price LBMA Silver Price LBMA Platinum and Palladium Price Clearing Vaulting Data LBMA Precious Metal Prices LBMA Daily Trade Reporting Data Clearing Data London Vault Data Value Dates Country of Origin Data LBMA Responds to PRA Consultation Paper: Modernising the Liquidity Policy Framework LBMA supports the PRA’s focus on liquidity usability, including monetisation speed, operational readiness and access to Bank of England liquidity. Discover more News News Read the latest news, publications and resources which outline our key initiatives. News and Resources Newsroom Alchemist Publications LBMA Annual Precious Metals Forecast Survey Centenary of the LBMA Gold Price Wonders of Gold Press Page IBA to Administer LBMA Platinum and Palladium Price Benchmarks from 1 July 2026 A licence from IBA is required in order to obtain, use or redistribute real-time or historical LBMA Platinum and Palladium Price data from that date. Find out more LBMA in Singapore: Strengthening Asia's Role in the Global Gold Market The 2026 Asia Pacific Metals Conference underlined Asia’s growing importance in global precious metals and the need for trusted, resilient and better-connected markets. Read more Events Events Read the latest news, upcoming events and resources. Events and Webinars Upcoming Events Past Events Webinar Series Standards of Conduct at LBMA Events Global Precious Metals Conference 2026 Join us in Sorrento where we will be delivering world class insight, networking and debate, while celebrating a landmark 25 years of this flagship event. Register now Conference 2026 Market Standards Market Standards As the independent authority for precious metals, we set standards that uphold trust in the global market. Market Overview About Loco London A Guide to the Loco London Precious Metals Market Training and Education Our Standards Market Standards Global Precious Metals Code Good Delivery Responsible Sourcing Incident Review Process Regulation Resources Financial Regulation Due Diligence Regulation REACH Review Process Case Studies HQLA WGC and LBMA Launch Joint HQLA Website Gold and HQLA: Correcting Misleading Online Information LBMA Precious Metals Market Report Read about the latest quarter in the precious metals market Discover more Membership Membership LBMA Membership demonstrates a commitment to uphold global standards within the precious metals market. Overview Abo
ut Membership Current Members Rules for Members Become a Member How to Join Membership Eligibility Membership Benefits LBMA Subscriber Membership FAQs Already a Member? Login to stay updated with LBMA Member news and events Discover more Good Delivery Good Delivery The standard trusted around the world, Good Delivery guarantees metal quality in the market. LBMA owns and manages the Good Delivery Lists for both gold and silver. Overview About Good Delivery Good Delivery Rules and Governance Good Delivery FAQs Lists Good Delivery Current List Data Good Delivery Former List Data Russian Good Delivery Bars Information Application Process How to apply for Good Delivery accreditation Advancing Standards Proactive Monitoring Proficiency Testing Scheme Resources Reference Materials Vault Operators Training Visual Guide Physical Market Guidelines Past Assaying and Refining Conferences Good Delivery Newsletters GBI Gold Bar Security Features Gold Bar Integrity Ecosystem GDL Newsletter Read the latest newsletter from our Good Delivery team on Committee updates, refinery visits and more Discover more Responsible Sourcing Responsible Sourcing All LBMA Good Delivery List Refiners must adhere to our Responsible Sourcing Programme. With annual independent auditing and public reporting, the Programme builds global demand for responsible sourcing. Overview Responsible Sourcing Approved Assurance Providers Overview Approved Assurance Providers LBMA's ASM Initiative Guidance & Tools Guidance Documents Refiners Toolkit Consultations Public Consultation: Responsible Gold Guidance Version 10 Disclosure Guidance Version 3 Resources International Bullion Centre Recommendations Introductory Training Module Responsible Sourcing FAQs Reporting Country of Origin Data Sustainability and Responsible Sourcing Reports Responsible Sourcing Newsletters Review Process Case Studies LBMA Position on the North Mara Mine Claim Supporting Pathways for Responsible ASM LBMA’s new report explores the progress made between 2022-2025 to help build the foundations for greater inclusion of responsibly sourced ASM gold in formal supply chains. Discover more Responsible Gold Guidance V10: Public Consultation RGG10 draws on implementation experience since the introduction of V9, developments in responsible sourcing practice, and LBMA’s commitment to continuous improvement. Discover more Responsible Sourcing Newsletter Summit discussions moved from dialogue to action, LBMA held its first in-person IBC roundtable, and a public consultation is launched on RGG10. Discover more Pricing & Data Pricing & Data View information about LBMA prices and data. Overview About LBMA Daily Auction Prices LBMA Gold Price LBMA Silver Price LBMA Platinum and Palladium Price Clearing Vaulting Data LBMA Precious Metal Prices LBMA Daily Trade Reporting Data Clearing Data London Vault Data Value Dates Country of Origin Data LBMA Responds to PRA Consultation Paper: Modernising the Liquidity Policy Framework LBMA supports the PRA’s focus on liquidity usability, including monetisation speed, operational readiness and access to Bank of England liquidity. Discover more News News Read the latest news, publ
ications and resources which outline our key initiatives. News and Resources Newsroom Alchemist Publications LBMA Annual Precious Metals Forecast Survey Centenary of the LBMA Gold Price Wonders of Gold Press Page IBA to Administer LBMA Platinum and Palladium Price Benchmarks from 1 July 2026 A licence from IBA is required in order to obtain, use or redistribute real-time or historical LBMA Platinum and Palladium Price data from that date. Discover more LBMA in Singapore: Strengthening Asia's Role in the Global Gold Market The 2026 Asia Pacific Metals Conference underlined Asia’s growing importance in global precious metals and the need for trusted, resilient and better-connected markets. Discover more Events Events Read the latest news, upcoming events and resources. Events and Webinars Upcoming Events Past Events Webinar Series Standards of Conduct at LBMA Events Global Precious Metals Conference 2026 Join us in Sorrento where we will be delivering world class insight, networking and debate, while celebrating a landmark 25 years of this flagship event. Discover more Global Global Global 中文網站 Contact About About About LBMA Our Team LBMA Board Independent Decision-Making Committee LBMA Sub-Committees Origins of the London Bullion Market History of Global Trade in Bullion Member login A Guide to the Loco London Precious Metals Market 3. London Platinum and Palladium Market Contents A Guide to the Loco London Precious Metals Market Editor's Note Chief Executive’s Foreword 1. Introduction 2. London Bullion Market Association 3. London Platinum and Palladium Market 4. The Price 5. London Good Delivery – Gold and Silver 6. Good Delivery – Platinum and Palladium 7. London Precious Metals Clearing Limited 8. Precious Metal Accounts 9. Lending and Borrowing Metal 10. Options 11. Precious Metal Benchmarks 12. Bank of England 13. Futures Markets and Exchange 14. Physical Metal 15. Documentation 16. Market Regulation 17. Taxation 18. Conversion Table 19. Key Facts about Precious Metals 20. Clearing Statistics 21. Market Trade Statistics 22. Central Bank and Governmental Ownership of Gold 23. Properties of Precious Metals 24. Frequently Asked Questions 25. Annexes 26. Disclaimer Download layout/blocks/body/_text --> LPPM The London Platinum and Palladium Market (LPPM) is a trade association that acts as the co-ordinator for activities conducted on behalf of its members and other participants in the market. It acts as the principal point of contact between the market and regulators/other official bodies, such as Her Majesty’s Revenue & Customs (HMRC), and ensures the continued evolution and health of a marketplace for platinum and palladium in which all participants can operate with confidence. A primary function of the LPPM is its involvement in the promotion of refining standards by maintenance of the LPPM Good Delivery List and a regime of Proactive Monitoring whereby refiners on the List have, under a continuous three-year rolling programme, their assaying ability independently tested in addition to being required to provide the LPPM, in confidence, with certain production and financial data. In all these respects, it is very much a siste
r organisation of the LBMA except that its primary responsibility is for platinum and palladium rather than gold and silver. This close relationship is enhanced by cross-representation on each others’ Boards/Management Committees. Members There are two categories of membership of the LPPM, namely Full and Associate Members, in addition to which there is Affiliation for those organisations that do not qualify for membership but are involved in the platinum and palladium markets, as well as the newly created category of LPPM Affiliated Exchange. Full membership of the LPPM is open to those companies that are recognised by the Management Committee as being currently engaged in trading and dealing in platinum and palladium, and that the LPPM also considers offer additional services in the market, such as market-making, clearing services, refining or manufacturing. All Founder Members of the LPPM are Full Members. Two Full Members are required as sponsors for Full membership of the LPPM. Associate membership is open to companies in the United Kingdom that are recognised by the Management Committee as being currently engaged in trading and dealing in platinum and palladium, and have an appropriate level of experience and net assets, but do not provide the full range of services provided by Full Members. Two Full Members or one Full and one Associate Member are required as sponsors for Associate membership of the LPPM. layout/blocks/body/_media --> layout/blocks/body/_text --> Affiliate membership is open to those companies that fail to meet the normal requirements of Full or Associate membership as described above but that are recognised by the Management Committee as being involved with or offering support to the global platinum and palladium markets. Two Full or Associate Member sponsors are required for Affiliate membership of the LPPM. LPPM Affiliated Exchange is a newly created level of membership and offers access to the LPPM Good Delivery List and the right of the Exchange to use it as a delivery standard. Any Exchange involved in Platinum and Palladium Group Metals may apply to the Management Committee for LPPM Affiliated Exchange membership. Two Full Member sponsors are required for this membership. LPPM members are organisations participating throughout a precious metals’ transformation from rock to its ultimate form as an investment bar, a piece of jewellery or component in an industrial process. This starts with providing financing for the miner to source ore several kilometres beneath the Earth’s surface before being transported to a refinery, to be made into bars, which are then stored and protected in a vault, before being sold or perhaps manufactured into the required form. The membership is certainly broad-based in both scope and expertise. The current membership list, as well as up-to-date membership requirements and details of the application process are available on the LPPM website . Market History While London has been an important trading and settlement hub for gold and silver for centuries, platinum and palladium are more recent additions, with the London Platinum Quotation introduced in 1973. This was a forerunner of the fi
xings and was a twice-daily indication of the market price for spot platinum, reported by some of the principal companies dealing in the metal. The London Palladium Quotation was introduced subsequently. In 1979, the leading London and Zurich dealers reached an agreement to standardise the specifications and provenance of metal that they would accept as Good Delivery. In 1987, the informal trading that had taken place for many years on a principal-to-principal basis was formalised via a Deed of Establishment into the London Platinum and Palladium Market. In 1989, the London Platinum and Palladium Quotations were expanded and upgraded to full fixings. Although, as of 1 December 2014, these were in turn replaced by the LBMA Platinum Price and the LBMA Palladium Price, which were launched with the agreement of the LBMA. layout/blocks/body/_media --> Assay furnace layout/blocks/body/_related --> 2. London Bullion Market Association The LBMA is the international trade association that represents the market for gold and silver bullion, which is centred in London but which has a global client base, including the majority of the central banks that hold gold, private sector investors, mining companies, producers, refiners and fabricators. Find out more 4. The Price It is a familiar sight in the media to see the prices of the four precious metals displayed. These are generally expressed in terms of dollars per ounce but may bear little resemblance to the price of one ounce of the metal in a piece of jewellery or in a small bar. So what does this number actually mean? Find out more Stay updated Register to access the latest LBMA news and events through our email alerts Register at MyLBMA LBMA About Us Membership Current Members Contact Us Our Team Newsroom MyLBMA Quicklinks Prices and Data LBMA Daily Trade Reporting Data Good Delivery Alchemist Events Responsible Sourcing A Guide to the Loco London Precious Metals Market 中文網站 © 2026 LBMA 7th Floor, 62 Threadneedle Street, London EC2R 8HP | LBMA Privacy Notice
