Thursday, July 17, 2014
It was confirmed by The London Bullion Association (LBMA) that CME will provide the platform and Thompson will provide the administration. Both companies will begin tests over the next few weeks and hope for everything to get started around mid-August. It is now believed that this will turn attention to changing the gold fix process and many other metals. The new price is electronic, auditable, auction-based and also tradable.