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Exclusive: ICE selected to run LBMA silver auction

Reuters  |  LONDON 

By Jan Harvey and Peter HobsonLONDON (Reuters) - ICE Benchmark Administration, a unit of Intercontinental Exchange, was confirmed on Friday as the new operator of the London Bullion Market Association silver benchmark.The LBMA said it expected IBA to take over the LBMA Silver Price in autumn this year, confirming a Reuters report.A race to provide the auction process that sets the benchmark, for which the LBMA owns the intellectual property rights, narrowed to two potential providers, ICE and the London Metal Exchange, earlier this year. ICE is the operator of the LBMA Gold Price benchmark, ...

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First Published: Fri, July 14 2017. 20:58 IST