More Bad News for the LBMA Silver Price provides Opportunity for Overhaul
On Friday 3 March 2017, in a surprise announcement with implications for the global silver price, the London Bullion Market Association (LBMA) informed its members that the current administrator and calculation agent of its recently launched LBMA Silver Price auction, Thomson Reuters and the CME Group respectively, will be pulling out of providing their services to the problematic London-based silver price benchmark within the near future. Thomson Reuters and the CME Group also issued statements on 3 March identical to that of the LBMA.