LBMA-With gold benchmark fixed, OTC trade eyed as next reform milestone
By GCRU Gold News on Monday, November 10 2014, 00:50 - Permalink
Calling time on London's century-old gold "fix" could mark the beginning of an even wider industry overhaul that may ultimately dilute the dominance of the highly profitable bilateral over-the-counter trading.
London's bullion price benchmarks, or fixes, were transformed in a matter of months this year as regulatory scrutiny and accusations of market manipulation made price-setting among a handful of banks untenable.