Platinum to Palladium Fixings Join Precious Metals Revamp
By GCRU Gold News on Thursday, July 31 2014, 12:30 - Permalink
The company that runs platinum and palladium fixings in London is seeking a new administrator for the price-setting process after similar changes were proposed for rituals in gold and silver.
The London Platinum & Palladium Fixing Company Ltd. will “shortly” start a request-for-proposals exercise for firms interested in assuming responsibility for the procedure that takes place each business day at 9:45 a.m. and 2 p.m. by phone, it said today in a statement. BASF Metals Ltd., Goldman Sachs Group Inc., HSBC Holdings Plc and Standard Bank Plc conduct the fixings, the London Platinum & Palladium Market website shows