By A. Ananthalakshmi
and Veronica Brown
Reuters
Wednesday, May 14, 2014
The London silver
"fix," a global benchmark for spot silver prices, will cease to
operate after Aug. 14, the company that administers the process said today,
amid rising regulatory scrutiny of price setting in bullion markets.
Deutsche Bank AG, HSBC,
and Bank of Nova Scotia will continue to participate in the fix until then,
the London Silver Market Fixing Ltd. said.
Last month, Deutsche Bank
had resigned its seat on the London gold and silver fixes without finding a
buyer after its decision to withdraw from the bulk of its commodities
business.
"Deutsche Bank has
postponed its resignation from the London Silver Market Fixing from 29 April
2014 to 14 August 2014, at which point the benchmark will terminate,"
according to an emailed statement from the bank. The gold fix, along with other
commodity benchmarks, has come under increasing scrutiny by regulators in
Europe and the United States since the London Interbank Offered Rate (Libor)
manipulation case last year. ...
... For the rest of
the story:
http://uk.reuters.com/article/2014/05/14/uk-silver-fix-idUKKBN0DU0IS2014...
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