Wednesday, 11th February 2004 (3639 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.

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.

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

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.”

“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.”

It is thought that the changes will make GBS a more attractive prospect to fund managers throughout Europe and also some in the US.

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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