Silver Electronic Auction Favored as Replacement for Fix
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A replacement for the century-old London silver fixing benchmark that will end in August should be an electronic, auction-based process and one that’s tradeable with more direct participants, a survey showed.
The London Bullion Market Association began a consultation in May seeking views for an alternative to the fix that’s used by miners to central banks. More than 440 participants completed an LBMA survey, the industry group said in a statement today. After requesting proposals from companies seeking to become a price administrator for a new system, the LBMA will hold a seminar on June 20 for members to give feedback on proposals.