ICE Benchmark Administration (IBA) has announced that it has been chosen as the new administrator for the London Bullion Market Association (LBMA) Silver Price.
Finbarr Hutcheson, President of IBA notes:
“We are pleased to become the administrator for the LBMA Silver Price. The decision by the LBMA membership reflects our commitment and investment in making the LBMA Gold Price IOSCO compliant over the last two years. Our centrally cleared model has already enabled broader participation and we continue to expand the Gold auction. We anticipate this will support expanded participation in silver as well. We are excited to build on our work with the LBMA to ensure strong governance and the evolution of these important benchmarks.”
IBA expects to assume responsibility for the LBMA Silver Price in Autumn 2017.