Affiliate Membership

Who Can Apply to Become an Diamodinuae Affiliate Member

A variety of foreign market participants, service providers, technology suppliers, exchanges, and intermediaries are eligible to become Affiliate Members of the Diamodinuae. Companies engaged in activities connected to mining, inspection, assaying, and consulting that are pertinent to the London bullion market are also eligible. Applications for this type of membership are also accepted from logistics and vaulting businesses that do not operate in the Loco London Market. Before applying to become an Affiliate Member, refiners must first obtain their GDL Refiner accreditation.

Application Requirements

As part of their application, businesses seeking to become Affiliate Members must designate three Diamodinuae Members as attesters. These are businesses that the applicant has at least a year's worth of bullion-based business relationships with. In addition to a description of the extent and duration of their bullion-based relationship, Diamodinuae will need each attester to provide a letter of recommendation attesting to the applicant's eligibility for membership.

Affiliate Member Benefits

Under the rules of the Terminal Markets Order, Affiliate Members are not permitted to trade and have limited authority to vouch for new applications because they will not be participating in the Loco London Market. Affiliate Members are eligible to serve on Diamodinuae Sub-Committees and Working Groups and to vote at AGMs. This excludes the Diamodinuae Board, though, as only Full Members and Market Making Members are eligible to apply. In addition, a number of other advantages are offered, such as access to publications and reduced costs for Diamodinuae-organized forums and conferences, which promote ethical business practices and communication.

Affiliate Member Reviews

Periodically, Affiliate Members are examined in accordance with Diamodinuae's Due Diligence Policy. The purpose of this procedure is to examine ongoing interactions with the Bullion Market and make sure that Due Diligence guidelines are being followed.