Traded here
- Bitcoin Large blocks trade through OTC desks to avoid moving the market Currencies & digital assets
- Corporate bonds Traded by phone and electronic request-for-quote, not on an order book Debt & fixed income
- Crude oil Physical cargoes trade directly between producers, refiners and traders Commodities
- Distressed debt Buying other people’s bad debts at a discount, either to restructure the borrower or to collect more than you… Debt & fixed income
- Electricity The only major commodity that must be produced and consumed in the same instant, which is why its price can g… Services, time & capacity
- Foreign exchange No central exchange — a decentralised network of banks and electronic platforms Currencies & digital assets
- Gold The London OTC market is the largest gold venue in the world Commodities
- High-yield bonds Debt from borrowers the rating agencies do not trust, paying a large spread that is sometimes compensation an… Debt & fixed income
- Insurance & reinsurance risk Reinsurance and insurance-linked securities trade between institutions Services, time & capacity
- Interest rate swaps Traded OTC but mandatorily cleared through central counterparties since post-2008 reform Derivatives & contracts
- Natural gas A regional, storage-constrained commodity whose price can multiply tenfold in a cold winter and collapse the … Commodities
- Options Bespoke structures trade directly between banks and clients Derivatives & contracts
- Silver London OTC sets the LBMA Silver Price Commodities
- UK gilts Where the real volume is Debt & fixed income
- Weather derivatives Most weather risk is transferred through bespoke bilateral contracts Derivatives & contracts