GnS+Research: Price Fix LMBA/CME?

Friday, January 29, 2016

Price Fix LMBA/CME?

Who sets the price of precious metals?
Zero hedge explains below:
http://www.zerohedge.com/news/2016-01-28/silver-market-disarray-after-benchmark-price-fix-manipulation

The price is set every day by six participants – HSBC, JPMorgan Chase Bank, Mitsui & Co Precious Metals, The Bank of Nova Scotia, Toronto Dominion Bank and UBS – using a system run by CME and Thomson Reuters.

CME and Thomson Reuters won the battle to provide the methodology and price platform for the daily process back in July 2014, replacing the 117-year old fix in August that year under sweeping reforms of the entire precious metals complex.

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