International Gold Xchange
Overview
International Gold Xchange (IGX) is a leading precious metals exchange that facilitates physical gold and silver trading among participants worldwide. Established in 2012, IGX operates from its headquarters in London, United Kingdom, with trading desks in New York, Hong Kong, and Perth.
Purpose and Function
IGX serves as a neutral and transparent platform for physical gold and silver trading. It provides its members, which include banks, refiners, bullion dealers, and investors, with the ability to trade these precious metals in a secure and efficient manner.
Trading Process
Trading on IGX follows a strict and standardized process:
1. Order Submission: Members submit their buy or sell orders to IGX through a secure online portal.
2. Matching Engine: IGX’s matching engine uses a proprietary algorithm to match orders and determine the best bid and ask prices.
3. Trade Execution: Once a match is made, IGX facilitates the execution of trades between the buying and selling members.
4. Settlement: Trades are settled on a daily basis in London Good Delivery bars, which are the highest quality physical gold and silver bars recognized by the London Bullion Market Association (LBMA).
Benefits of Trading on IGX
* Transparency and Price Discovery: IGX provides real-time price quotes and trade data, enabling members to make informed decisions and benefit from price transparency.
* Centralized Liquidity: IGX congregates a large and active pool of participants, providing access to ample liquidity for both physical gold and silver trading.
* Security and Reliability: IGX employs robust security measures and adheres to strict operational standards to ensure the safety and reliability of its trading platform.
* Reduced Transaction Costs: By providing a central trading venue, IGX reduces the need for intermediaries and lowers overall transaction costs.
* Access to a Global Market: IGX’s global reach allows members to trade with counterparties from around the world.
Conclusion
International Gold Xchange is a vital hub for physical gold and silver trading, connecting participants worldwide and facilitating secure and efficient transactions. Its transparency, liquidity, security, and reduced costs make it an indispensable platform for the precious metals industry.
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