By Cecilia Jamasmie
MINING.com
The Chicago Mercantile Exchange (CME) confirmed Thursday its intention to bid for the administration of the century-old London gold fix benchmark in partnership with ThomsonReuters.
“Having won the Silver Price mandate in partnership with Thomson Reuters, CME Group would be delighted to be part of this proposal process with Thomson Reuters and look forward to engaging with the London Gold market participants,” CME Group’s director of metals products, Harriet Hunnable, was quoted as saying.
The exchange would bid to be involved in a new process, which may turn the current twice-daily price-setting conference call into an electronic auction. She added the exchange would bid to be involved in a new process, which may turn the current twice-daily price-setting conference call into an electronic auction.