Wednesday, May 14, 2014

The Silver Fix to end in August


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The company that runs the London silver fixing, a benchmark dating back more than a century that allows miners to jewelers to trade and value the metal, will stop running the process on Aug. 14.

Deutsche Bank AG, HSBC Holdings Plc and Bank of Nova Scotia will remain the three members of the company, which will continue to liaise with the U.K. Financial Conduct Authority and other stakeholders, the London Silver Market Fixing Ltd. said today in a statement. The London Bullion Market Association is willing to help with talks among participants to see whether the market wants to develop an alternative, the fixing firm said.

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