Source: Kynetix
The LME and Kynetix are delighted to announce that they have entered into a partnership to deliver a global custody solution for the storage and financing of off-warrant metals.
This service will allow metal owners to lodge their warehouse receipts in a secure depository, with electronic transfer, pledging and administration functionality.
The system will be hosted on Sentinel, the market-leading electronic custody solution provided by Kynetix, and will be underpinned by the LME's longstanding expertise in authorising, coordinating and auditing a global metals warehousing network.
The service is expected to be launched in the fourth quarter of 2015 subject to the receipt of relevant regulatory approvals.