One of Five Companies will run the Gold Fix

One of Five Companies will run the Gold Fix

One of Five Companies will run the Gold Fix

By Cecilia Jamasmie

Five are the groups that have been shortlisted by the London Bullion Market Association (LBMA) to manage a new electronic gold fix that will replace the century-old price setting mechanism.

One of Five Companies will run the Gold Fix

London Bullion Market Association

Broker Autilla Ltd (Sapient), the Chicago Mercantile Exchange jointly with Thomson Reuters, U.S. derivatives bourse Intercontinental Exchange, the London Metal Exchange and broker ICAP’s online platform EBS will present their proposals this Friday, the LBMA confirmed in a statement.

A winner is expected to be chosen in November and the fix is to go live between the end of the year and early 2015, the LBMA added.

The decision will be closely watched by Chinese investors, which reportedly approached the LBMA last week to be part of the silver pricing benchmark.

The banks are contemplating whether to also take part in the twice-daily gold pricing sessions, but first they want to know will run the gold fix.

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