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Thomson Reuters, CME Group to develop silver benchmark

Published 2016-02-04, 09:55 a/m
© Reuters. Thomson Reuters, CME Group to develop silver benchmark
CME
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TRI
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LONDON, Feb 4 (Reuters) - Thomson Reuters TRI.TO and CME
Group CME.O announced on Thursday a package of measures to
further develop the silver benchmark.
The benchmark's oversight committee has held two
extraordinary meetings since last Thursday.
The official price for silver settled more than 80 cents
below the spot price on Thursday, Jan. 28.
The Financial Conduct Authority has been kept fully
informed, the companies said in a release.
The measures include the suspension of the process if the
administrators believe the integrity of the auction or
participants is threatened.
The measures are also aimed at increasing the participation
in the auction of companies that are not banks.
"This protocol has been in place since Friday January 29,
2016," the release said. "In addition we look at the viability
of introducing centralized clearing of all auction trades, to
make the process easier and less capital intensive for
participants."

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