LBMA Market Makers
- BNP Paribas
- Citibank NA
- HSBC
- ICBC Standard Bank Plc
- JP Morgan Chase Bank
- Merrill Lynch International
- Morgan Stanley & Co International Ltd
- Standard Chartered
- Toronto-Dominion Bank
- UBS AG
Limpid Markets
A powerful price discovery and negotiation service for the London and Zurich interbank precious metals financial markets.
Our Company
We are a small financial services company founded in 2013 in Jersey by Cedric Bernadac, an ex-trader with 15 years of experience in financial markets, with the purpose of enhancing trading efficiency between banks within the London precious metals markets.
Our Service
Limpid Markets provides specialist deal arranging services for the London and Zurich interbank precious metals markets. We actively facilitate price discovery and interest matching between counterparties, helping financial institutions identify and negotiate trading opportunities efficiently and transparently.
We combine market expertise with a proprietary technology platform that aggregates and streams indicative market data in real time, enabling us to deliver a responsive and informed arranging service.
Important distinctions:
- We act strictly as an arranger. We do not act as agent or principal in any transaction.
- We do not provide execution or settlement services.
- At no point do we hold, transfer or otherwise handle client funds or assets.
- All transactions are concluded directly between the counterparties themselves.
Our Customers
We only target the London and Zurich OTC interbank markets for precious metals swaps, EFPs and physical participants. Our customers are well-established, high profile financial institutions which are members of the LBMA. We are ourselves a full member of the LBMA since 2015. We currently service the following members:
LBMA Ordinary Members
- Australia & New Zealand Banking Group
- Bank Julius Baer Ltd
- Banque Pictet & Cie SA
- Bank of Montreal
- BASF Metal Limited
- CIBC
- Commerzbank AG
- Commonwealth Bank of Australia
- Credit Agricole CIB London
- Credit Suisse AG Zurich
- Deutsche Bank AG
- Gunvor
- ING Bank N.V.
- Johnson Matthey PLC
- Koch Metals Trading Limited
- Macquarie Bank Limited
- Marex
- Mitsubishi Corporation
- Natixis
- National Australia Bank Limited
- Raiffeisen Switzerland
- Royal Bank of Canada
- Stonex Financial Limited
- Sumitomo Corporation Global Commodities
- UniCredit Bank AG
- Valterra
- Wells Fargo
- Westpac
- Zurcher Kantonalbank
Limpid Markets DICOR
The DICOR (Daily Interbank Contango Rate) is a proprietary benchmark for precious metals markets administered by Limpid Markets Ltd from Jersey. It provides a daily reference rate reflecting the cost of carry (contango) of precious metals, from one day to the next. Leveraging extensive live market data access covering a substantial majority of short-term swap transactions and orders, Limpid Markets maintains a uniquely informed position. DICOR calculation methodology is closely modelled after the SOFR (Secured Overnight Financing Rate), ensuring a robust and reliable benchmark.
Interested in our service?
Our onboarding process is very simple, please get in touch.
Contact us