JP Morgan has been granted a silver vault license- meaning JPM can now effectively take delivery of their own shorts.
On March 15th the COMEX and NYMEX approved JP Morgan's application to be a licensed vault for delivery of gold, silver, platinum, and palladium contracts, effective March 17th. (This process typically takes 45 days, but JPM was given a "self-certification" process as Blythe does not have 45 days to come up with 4.375 million oz of silver.
Call it a stick save, buzzer beater, making up the rules as you go, or whatever you like- but it looks like those expecting fireworks in the COMEX silver market in March will have to be patient at least a few more months.
Full story from SeekingAlpha
