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Silver fixed by new parties

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CME Group and Thomson Reuters will provide a London Silver Fix solution starting from 15 August, which will replace the previous fix system in place for over a century.

The new solution will take over a process of daily silver price fixing that started in 1897.

CME is set to provide an over the counter (OTC) auction platform, which will use Thomson Reuters Benchmark Administration service to provide an electronic solution that will enable a London OTC silver spot price.

William Knottenbelt, senior managing director, EMEA for CME Group, said: “CME Group’s transparent, transaction-based OTC auction platform, combined with Thomson Reuters’ independent Benchmark Administration services will deliver a strong London footprint, a deep understanding of the silver markets, and a fully IOSCO-compliant, FCA-regulated solution to the London bullion marketplace. As an industry leader in precious metals price discovery, we understand how important the silver spot benchmark is to the physical metals industry, and we look forward to continuing to engage with key metals industry stakeholders to deliver our new solution on August 15th.”

 

ABOUT THE AUTHOR
Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 16 years he has been based in London writing about funds and investments . From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope.

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