Twelve Firms Expressed Interest in Running Gold Fix Replacement
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At least 12 firms have expressed interest in running a replacement for the century-old gold fixing benchmark, the London Bullion Market Association said.
Proposals to run a new price-setting ritual are due in today and those shortlisted will present at a seminar in London on Oct. 24, Aelred Connelly, a spokesman for the LBMA, said today by phone. He declined to name the firms. The company that runs the gold fixing said in July that the LBMA will help with a request-for-proposals exercise for a new procedure that currently takes place twice a day by phone.