Electronic solution poised to replace the London Silver Fix
Adam Pike, News Editor
16 May 2014, 10:40 a.m.
Following the news the London silver fix will stop operating on the 14th of August a number of technology and finance companies have come forward offering potential electronic solutions.
Following the collapse of the silver fix, the London Bullion Association (LBMA) confirmed they will work with industry participants to find a suitable replacement for the century old fix. The LBMA said it will consult with miners, refiners and potential administers before a decision on a replacement to the silver fix is made.
Industry insiders close to the matter confirmed that the London Metal Exchange (LMNE) is also keen to provide the silver market with an alternative to the century old silver fix. Another proposal could involve using future contracts listed on U.S. exchanges like the CME and NYSE Liffe.