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Wednesday, 11th February 2004 (5084 views)

The Gold Bullion Securities company behind the precious metal transaction service says it is to launch an improved and revamped version of its system.<BR/><BR/>The firm confirmed that it would be developing a new and improved Gold Bullion Securities product that would help facilitate the buying and selling of the precious metal on the London Stock Exchange. <BR/><BR/>Building on the existing exchange, which was launched in December, the new system will boast a series of tweaks to continue the drive in investment in the gold market<BR/><BR/>Joint managing directors, Graham Tuckwell and Simon Village, commented: “Our achievement in listing Gold Bullion Securities on the London Stock Exchange is a pioneering effort; the first time a commodity-linked product of this type has been listed on any major stock exchange.” <BR/><BR/>“We have been taking steps to develop an improved product in response to feedback from the market which will have an even broader appeal to investors and other market participants.”<BR/><BR/>It is thought that the changes will make GBS a more attractive prospect to fund managers throughout Europe and also some in the US.<BR/><BR/>The Financial Services Authority (FSA), the UK's senior financial watchdog, will approve the eligibility of the system, with the new version expected to begin within the next three months.

 

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