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Australia's first physical bullion exchange, an overthecounter (OTC) spot market for gold, silver and platinum, will begin operations Oct 4, the Australian Bullion Exchange (ABX) said in a statement on Tuesday.
Bullion would be bought and sold on the exchange through listed brokers, it said, adding it was targeting a number of large financial institutions to register as members.
"Australia is the secondlargest gold producer in the world; we should have a globally recognised exchange to accompany this position," said Thomas Coughlin, CEO of the ABX.