Loco Singapore vs LBMA and Loco London
Loco Singapore and the LBMA aren't competing versions of the same thing.
The London Bullion Market Association, or LBMA, establishes widely used standards for the wholesale bullion market, including its Good Delivery requirements. Loco London describes gold held and settled in London.
Loco Singapore describes physical gold held in Singapore and the developing market infrastructure around its local clearing and settlement. See our introductory guide to Loco Singapore for the basics.
| Aspect | LBMA / Loco London | Loco Singapore |
|---|---|---|
| Main role | Global bullion standards and established London market | Singapore-based trading, clearing and settlement |
| Trading hours | Centred on the London market | Designed to strengthen access during Asian hours |
| Bar formats | Wholesale market centred heavily on large bars | Large bars and kilobars |
| Market maturity | Long established | New infrastructure launching from 2026 |
Does Loco Singapore replace LBMA standards?
No.
Singapore has said its market practices will align with recognised global standards, including the LBMA Good Delivery framework for large bars.
That distinction matters.
LBMA standards help establish whether a bar is acceptable within the institutional bullion market. Loco Singapore is concerned with where eligible gold can be traded, cleared and settled.
The two can therefore work together.
A large bar meeting recognised international standards could be held and settled in Singapore without Singapore having to create an entirely separate global quality standard.
Why create another gold centre?
Time zone is one reason. Asian buyers and institutions account for substantial physical gold activity. A deeper Singapore market gives participants another place to transact and settle gold during Asian business hours rather than relying as heavily on markets operating in other time zones. For the full clearing system details, see our Loco Singapore Gold Clearing guide.