Bank TD Securities is expected to join the LBMA gold price benchmarking process on Monday August 24, ICE Benchmark Administration said on Tuesday.
TD Securities is a Canadian investment bank and financial services provider that is part of the TD Bank Group headquartered in Toronto.
ICE subsidiary ICE Benchmark Administration (IBA), which was established in April 2013 to administer benchmarks, now provides the price platform, methodology and overall administration and governance for the LBMA gold price.
There are currently 10 participants in the LBMA Gold Price, which formally replaced the near-century-old London Gold Fix on March 20.
The twice-daily gold fix, which had been in operation since September 12, 1919, came under increased regulatory and media scrutiny. A third-party operator was seen as a critical step in modernising the image of the process, while also providing enhanced transparency and compliance with legislation.
(Editing by Martin Hayes)
The post TD Securities expected to join gold benchmark on Aug 24 appeared first on The Bullion Desk.
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