# IBA Gold Licensing Inquiry — Transmission Copy

Prepared: 2026-08-26  
Recipient: IBA-Licensing@ice.com  
Delivery status: SENT／RESPONSE PENDING  
ASSET SHIFT binding: AU-ALT-LIC-BIND-v0.1

## Transmission record

- User-confirmed sent date: 2026-08-26
- Time precision: date only; no exact sent timestamp is asserted
- Verified recipient: `IBA-Licensing@ice.com`
- Verified subject: `Licensing inquiry — LBMA Gold Price PM data for a derived public research classification`
- Evidence: Yahoo Mail Sent-folder screenshot, retained privately
- Evidence SHA-256: `69f154a940e116055fdd4fb7bcfa7f68213ed3a84b138cacd5667cf6e4e89032`
- Evidence Library ID: `libfile_7fab31c44bec8191addb32fd70c8a52e`
- Rights effect: none; response pending and all Gold calculation/Emit gates remain blocked

## Subject

Licensing inquiry — LBMA Gold Price PM data for a derived public research classification

## Message

Dear IBA Licensing Team,

We are developing ASSET SHIFT, a research and data-validation platform for individual investors in Japan. It presents medium- and long-term current-state classifications for six asset categories. It does not issue buy, sell, trading or asset-allocation instructions, and all decisions remain with the user.

We are evaluating the LBMA Gold Price PM in USD as a possible licensed source for a new Gold research-model version. This candidate is being assessed separately from our existing model and will not be used, calculated or publicly displayed unless the relevant rights and technical conditions are confirmed in writing.

Our proposed workflow would use the benchmark observations only as internal model inputs. Public users would not receive the underlying LBMA Gold Price observations, historical table, downloaded Raw files or a substitute benchmark series. Subject to permission, the public output would be limited to a materially derived current-state classification, such as “Attractive,” “Neutral,” “Watch” or “Unknown,” together with methodology and audit metadata.

Could you please provide a written determination and licensing route for each of the following uses?

1. **Raw data access and delivery**  
   Which licence and delivery route would permit ASSET SHIFT to obtain historical and ongoing LBMA Gold Price PM data for internal research, model development, reproducibility testing, Backtest, untouched out-of-sample testing and prospective Forward Validation? Please also identify the available history depth, delivery format, publication timing, revision policy and applicable fees.

2. **Internal Raw retention and audit archive**  
   May we retain exact, timestamped copies of licensed source files internally for reproducibility and audit purposes, record the retrieval date and data Vintage, and calculate and retain SHA-256 checksums? These copies would not be redistributed or made available to public users.

3. **Free derived public display**  
   May a free public Research Preview display only a materially derived Gold classification and explanatory metadata, without displaying, exposing, reconstructing or redistributing any LBMA Gold Price observation, historical table or Raw file?

4. **Commercial derived public display**  
   May the same materially derived classification be displayed in an advertising-supported, subscription-based or otherwise commercial service, again without displaying or redistributing the underlying benchmark observations?

We would also appreciate confirmation of:

- the exact attribution, benchmark notice and disclaimer wording required for internal research, free derived display and commercial derived display;
- whether receipt through an authorised data vendor would still require a separate IBA usage or derived-benchmark licence;
- whether the licence may permit internal aggregation of the daily LBMA Gold Price PM observations into a monthly model input, while keeping all underlying observations private; and
- whether the proposed derived classification would fall under a Usage Licence, Historical Access and Usage Licence, Derived Benchmark Licence or another licence category.

Please distinguish clearly between rights granted for internal research, free public derived display and commercial public derived display. If a licence quotation requires further information about expected users, distribution channels or technical architecture, please let us know what details you require.

Until written terms are received and accepted, ASSET SHIFT will not download licensed Raw data, execute the candidate Transform, run results-dependent testing or publicly emit any Gold direction, persistence or state from this candidate.

Thank you for your assistance.

Regards,

ASSET SHIFT  
Name: Naoyasu Saitou  
Email: na046_1014@yahoo.co.jp  
Country: Japan