ETF Securities enters race to provide silver price benchmark
By GCRU Gold News on Thursday, June 5 2014, 09:16 - Permalink
One of the biggest providers of exchange traded funds has entered the race to develop a new global silver price benchmark when the 117-year-old London silver fix is disbanded in August.
ETF Securities, which pioneered gold-backed ETFs and oversees $19bn in assets, said on Wednesday that it had submitted a detailed proposal to the London Bullion Market Association (LBMA), and was consulting market participants.