BMA members have chosen the joint CME/ThomsonReuters bid to replace the London silver fix, which will formally end on August 15, several sources in the market claimed.

In a closed meeting at the London Bullion Market Association’s offices at the Royal Exchange on Friday, the joint bid was chosen from a shortlist of seven that included proposals from the London Metal Exchange, Bloomberg, ETF Securities, Platts and others, The Bullion Desk understands.