March date set for gold fix switch

Section:

By Ese Erheriene
The Wall Street Journal
Thursday, February 19, 2015

The deadline for the gold fix to enter the digital age is nearing.

The London Bullion Market Association said today that the gold benchmark will be set via an electronic platform managed by ICE Benchmark Administration beginning on March 20.

The new LBMA Gold Price will be set twice daily -- at 10:30 GMT and 15:00 GMT -- in dollars, euros, and sterling. It will replace the current private telephone conference between a group of four banks, the remnants of a cozy system that has existed since 1919. ...

... For the remainder of the report:

http://blogs.wsj.com/moneybeat/2015/02/19/march-date-set-for-gold-fix-sw...



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