Odds on, odds off: London gold market seemingly confused on best route forward

With Cheltenham races this week, everyone is in betting mood. It would appear that the cards could be stacked in IntercontinentalExchange’s favor, as the operator has come up as an outside favourite to possibly succeed the London Bullion Market Association ‘request for proposal’ to reform the London gold market.

Why? Because the other two rumored exchanges involved in the process — the London Metal Exchange and CME Group — have already been touted, maybe?

“The market is currently built on hearsay, and rumors,” said one source close to the situation.

And guessing. Oh, and lack of interest.

“I have a business to run,” said one senior source.

Read more at Platts