A powerful price discovery and negotiation service for the London and Zurich interbank precious metals financial markets.

Our Company

We are a small technology company providing arranging services, 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, the vast majority of which are LBMA members. We are ourselves a full member of the LBMA since 2015. We currently service the following institutions:

Limpid Markets DICOR

The DICOR (Daily Interbank Contango Rate) is a proprietary index 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. It is calculated from interbank trades and orders observed on the platform, not from submissions by a panel of contributors. Leveraging extensive 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 index.

Interested in our service?

Our onboarding process is very simple, please get in touch.