Friday, November 7, 2014 Posted by Trader Dan at 8:23 AM
LBMA (London Bullion Market Association ->prim. physical gold & silver) announces ICE (Intercontinental Commodity Exchange -> prim. electronic trading) gets the Gold Fix.
In what will obviously make the Intercontinental Commodity Exchange crow to annoy the CME Group, the London Bullion Market Association announced that it has picked ICE to manage the Gold Fix.
The new electronic fix will commence in early 2015 with 11 firms intending to participate.
This will be interesting to watch as it ushers in a new age for the gold fix and brings it into the 21th century.
One can only hope that it functions smoothly and efficiently and above all, with increased transparency.
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Fysiek is dus uit
en electronisch is in