LBMA accredits Toronto Dominion Bank as sixth member of the silver fix

Otmane El Rhazi from The Bullion Desk.

The Toronto Dominion Bank has become the sixth accredited member of the Silver Price Benchmark, the LBMA said on its website.

The Canadian multinational joins HSBC Bank USA, Mitsui & Co Precious Metals, the Bank of Nova Scotia – ScotiaMocatta, JP Morgan Chase and UBS AG.

The LBMA told FastMarkets back in October that several other parties were interested in joining the list, including a number of Chinese firms.

Had the silver benchmark administration consultation process not been subject to such strict deadlines, these firms may have been participating sooner, the LBMA indicated.

The London Silver Fix ended in August after the administration of the new London Silver Price Benchmark was awarded to CME Group and Thomson Reuters in July.

(Editing by Tom Jennemann)

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