|
Copper Catcher
Administrator
USA
2092 Posts |
 Posted - 08/20/2010 : 16:37:38
|
Credit Suisse Reclassified as Market Making Member of London Bullion Group
Credit Suisse Group AG was appointed as a market-making member of the London Bullion Market Association after about a three-month probation.
The membership applies to spot and options and is effective today, the LBMA said in an e-mailed statement. There are now 10 market-making members, which must offer two-way quotations in both gold and silver, the association said. Credit Suisse was reclassified from an ordinary LBMA member.
“The market makers are a mass provider of liquidity,” Stewart Murray, the LBMA’s chief executive officer, said today by phone. “If there was massive buying or selling, it’s the market makers in the main that absorb that. Given that can happen, it’s better to have more rather than less.”
The LBMA has 53 ordinary, 53 associate and three affiliate members, taking total membership to 119, the LBMA said. Other market makers include HSBC Holdings Plc, UBS AG and Goldman Sachs Group Inc.
Source: You must be logged in to see this link.
|
|
Credit Suisse Reclassified as Market Making Member
Forum Locked
