CME Group, today released the following statement regarding the London Bullion Market Association's London Silver Price Market Consultation:
"We are honoured to have been appointed by the OTC silver market participants and the London Bullion Markets Association to provide an electronic solution that will transform the London OTC silver spot price," said William Knottenbelt, Senior Managing Director, EMEA (Europe, Middle East, Africa) for CME Group. "CME Group's transparent, transaction-based OTC auction platform, combined with Thomson Reuters' independent Benchmark Administration services will deliver a strong London footprint, a deep understanding of the silver markets, and a fully IOSCO-compliant, FCA-regulated solution to the London bullion marketplace. As an industry leader in precious metals price discovery, we understand how important the silver spot benchmark is to the physical metals industry, and we look forward to continuing to engage with key metals industry stakeholders to deliver our new solution on August 15th."
