Dillon Gage Metals Becomes an Associate Member of The London Bullion Market Association

June 17, 2011 - PRLog -- In May, Dillon Gage Metals was named an associate member of The London Bullion Market Association (LBMA), a wholesale, over-the-counter market for trading gold and silver. Members are mostly international banks, bullion dealers and refiners.

Terry Hanlon, president of Dillon Gage Metals, the Dallas-based, precious-metals trading firm, said, “We are very pleased about our associate membership and believe it will bolster our long-standing, professional relationships with dealers around the globe.” He added, “We have the highest regard for the good-trading and standard-documentation practices promoted by the association.”

The LBMA's current membership stands at over 120 companies in 20 countries —all admitted as either members or associates. Over half of the membership is made up of associates from the U.S., Canada, Europe, South Africa, the Middle East and Asia. Members and associate members are engaged in activities closely related to the London gold or silver bullion markets, including trading, brokering, shipping and storage, mining and refining, inspection, assaying and research.

Dillon Gage Metals is involved in most of those functions, with the exception of mining. Generally speaking, UK-based trading companies and banks with a branch located in the UK are full members. Associate status is for companies—especially those outside the UK—with strong ties to the London bullion market. Dealers, producers and refiners located outside the UK apply to become LBMA associates. Associates may be firms active in inspection, assaying or consulting.

Other membership types include “market-making” and “ordinary.” Market-maker members must quote one other in their product categories—spot, options or forwards in gold and silver during the London business day. An ordinary member is similar to a full member, but doesn't make markets.
The LBMA is the main point of contact between the London bullion market and its regulators. The LBMA promotes refining standards and good trading practices, and develops standardized documentation. Additionally, the group coordinates market clearing and vaulting.

Through its staff and committees, the LBMA works to ensure that London continues to meet the evolving needs of the global bullion market.

“The gold and silver markets are a worldwide business, and London has long been at the heart of price determination,” Hanlon stated. “We will greatly benefit from our associate membership in the LBMA and our contacts and dialogue with other members.”  

For more information on Dillon Gage Metals, please visit www.dillongage.com/metals or phone 800-375-4653. Follow Dillon Gage Metals on Twitter @DillonGage and on Facebook http://www.facebook.com/dillongage.

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About Dillon Gage
Dillon Gage (www.DillonGage.com) was founded in 1976, and its companies include:
• Dillon Gage Securities, Inc., a full-service NASD member firm that specializes in financial planning.
• Dillon Gage Metals, one of the largest precious metals dealers in the U.S.
• Dillon Gage Inc., a firm dealing in futures markets.
• Diamond State Depository, a wholly owned, independently operated precious-metals storage facility located in New Castle, Delaware.


For more information, contact:
Jo Trizila
jo@TrizCom.com
O 972-247-1369
C: 214-232-0078