Citi Becomes Clearing Member of London Precious Metals Clearing Limited

• Citi has been admitted as a clearing member of London Precious Metals Clearing Limited (LPMCL).
• The move marks a major expansion of Citi's precious metals business by adding Loco London settlement services, while simultaneously increasing LPMCL's network of clearing members.
• This collaboration expands the global precious metals market infrastructure, underscoring LPMCL's central role in the bullion market.

LONDON--(BUSINESS WIRE)--Citi and the LPMCL today announce Citi's admission as a clearing member of London Precious Metals Clearing Limited (LPMCL), adding Loco London settlement services for gold, silver, platinum and palladium.

The new offering marks a major expansion of Citi Commodities’ global precious metals business as it delivers a more comprehensive product suite to its global client base.

“Citi’s admission as a clearing member of LPMCL represents a natural extension of our long‑standing precious metals business,” said José Cogolludo, Head of Commodities at Citi. “This role aligns well with our operating model and our commitment to supporting robust, efficient market infrastructure. We look forward to contributing to the continued strength and resilience of the London bullion market.”

James Cressy, Chair of LPMCL, said, “The addition of Citi as a clearing member of LPMCL demonstrates the openness and transparency of our membership process, allowing new entrants to join and participate in the clearing and settlement of the predominate global over the counter precious metals market.”

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

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