The LBMA today announced that ICE Benchmark Administration (IBA) has been selected to be the third-party administrator for the LBMA Gold Price. This consensus was reached during the LBMA’s market consultation, which involved two market surveys, a seminar and meetings with market participants, solution providers and the regulator.
IBA, an independent specialist benchmark administrator, will provide the price platform, methodology as well as the overall administration and governance for the LBMA Gold Price. IBA’s proposal meets the LBMA Request for Proposal process criteria as it is electronic, auction-based, tradeable and auditable. The gold price mechanism is also expected to attract an increased number of direct participants. Read More