Commodities

LCH.Clearnet Product ID (Code)	OGD
Metal Grade and Quality	Gold as defined by the LBMA Good Delivery Rules for Gold as amended from time to time
Trade Execution Venue	Over The Counter
Trade Submission	Any good London business day
Last Submission Date	Up to and including one good London business day prior to the Settlement Date
Trade Submission Hours (GMT)	07:30 until 20:00 hours on every good London business day except Last Submission Day 07:30 until 14:45 hours on the Last Submission Day
Clearing Registration Hours (GMT)	07:30 until 20:30 hours on every good London business day except Last Submission Day 07:30 until 15:30 hours on the Last Submission Day
Minimum Trade Unit	100 troy ounces fine gold - and multiples thereof
Currency	US Dollars ($), USD
Price Quotation	In USD to three decimal places
Settlement Date	Value Date of OTC executed Contract (Any good business day in both London and New York from next Good Settlement Date to 120 months forward)
Closing Valuations	It is intended that the LBMA gold forward curve will be used to establish closing valuations
Settlement Price	It is intended that the PM London Fix as published by London Gold Market Fixing Limited two days prior to the Settlement Date will be used
Metal Settlement	Through unallocated gold accounts held at LPMCL Members
Currency Settlement	Through LCH.Clearnet PPS Bank Accounts
VAT	Trades are zero-rated
Clearing Fees	GBP0.05 per lot
Settlement Fees	$10 per transaction

Business Streams