New book ‘102 Things to Do with a Hole in the Ground‘ spotlights global reclamation projects
Stories of reinvented coal mining regions, regenerated communities and rebuilt ecosystems are told in a new book published this month.
London Bullion Market Association.
Five are the groups that have been shortlisted by the London Bullion Market Association (LBMA) to manage a new electronic gold fix that will replace the century-old price setting mechanism.
Broker Autilla Ltd (Sapient), the Chicago Mercantile Exchange jointly with Thomson Reuters, U.S. derivatives bourse Intercontinental Exchange, the London Metal Exchange and broker ICAP’s online platform EBS will present their proposals this Friday, the LBMA confirmed in a statement.
A winner is expected to be chosen in November and the fix is to go live between the end of the year and early 2015, the LBMA added.
The decision will be closely watched by Chinese investors, which reportedly approached the LBMA last week to be part of the silver pricing benchmark.
The banks are contemplating whether to also take part in the twice-daily gold pricing sessions, but first they want to know will run the gold fix.
The LBMA-led search for an alternative for both the gold and silver fix came as market regulators had been scrutinizing benchmarks across the financial sector in the wake of a scandal involving rigging of interest rates.
London is the world’s largest trading center for precious metals. Total demand for gold last year was $184 billion, according to the World Gold Council.
