GBE Prime launched around-the-clock gold trading on Wednesday, targeting institutional clients including brokers, banks, asset managers and funds. The service runs on distributed data center infrastructure with FIX API connectivity, though the firm has not disclosed critical details including contract specifications, leverage, spreads or the instrument type. The announcement positions GBE Prime alongside growing competition in continuous precious metals trading. Scope Prime rolled out institutional gold CFDs in March, while Match-Prime added weekend CFDs on gold, silver, oil and equity indices in June. Retail platforms Vantage and VT Markets introduced similar products over the summer. CME Group also launched 24/7 cash-settled gold futures in July, offering an exchange-traded alternative.
The key uncertainty remains pricing methodology. With traditional gold markets closed on weekends, liquidity providers must quote independently, raising questions about reference venues, price discovery and hedging costs during thin liquidity periods. GBE Prime has not disclosed these operational details.
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FXnCO Insight
** Brokers evaluating weekend gold providers should demand full transparency on pricing sources and spread widening formulas before routing client flow to any 24/7 venue.
Source: Finance Magnates