Seeking Alpha

CME and Thomson Reuters to operate silver fix

  • CME Group and Thomson Reuters (TRI) have won the battle to operate the London silver fix when the current system is disbanded next month, says the London Bullion Market Association.
  • CME's role will be to provide a price platform and methodology, while Thomson Reuters will be charged with administration and governance.
  • The silver fix is currently set each day at noon by three banks (Deutsche, HSBC, and Scotiabank) via conference call, but there's been just a bit of scrutiny of late about possible benchmark manipulation in a number of other markets.
  • Silver's overhaul is likely just the beginning, with the gold, platinum, and palladium fixes next on tap for reform.
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