LBMA Silver Price Launches New Era in Pricing Precious Metals

CME Group, Thomson Reuters, and the London Bullion Market Association ("LBMA") announced the launch of a new transaction-based, price-setting mechanism for the LBMA Silver Price.

According to press releases, the LBMA Silver Price mechanism is IOSCO-compliant and fully electronic. CME Group stated it will provide the electronic platform on which the price will be calculated, Thomson Reuters will be responsible for administration and governance, and the LBMA will accredit price participants.

The new LBMA Silver Price benchmark will be published and distributed by Thomson Reuters and will be available on the LBMA's website.