On 28 January 2016, the midday LBMA Silver Price auction took 29 rounds to establish a final price of US$13.58 which was manipulated down by a whopping 6% below where silver spot and futures prices were trading at that time. This auction fiasco and price manipulation has caused deep concern among silver benchmark price users as well as consternation among the Gang of Three companies which own/administer/operate the LBMA Gold Price, namely the London Bullion Market Association, Thomson Reuters Benchmark Services, and CME Group.

Which trading entity was putting massive and increasing sell orders into the midday Silver fixing on 28 January?