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Standard Bank in prime position for Deutsche's gold fix seat, sources tell Reuters
By Clara Denina and Jan Harvey
Reuters
Tuesday, February 18, 2014
LONDON -- South Africa's Standard Bank, now selling a controlling stake in its markets unit to China's ICBC, is emerging as a frontrunner to buy Deutsche Bank's place in the global gold price-setting process, sources familiar with the matter said.
A seat in the process -- also known as the "fix" -- to determine the benchmark gold price had long been considered a mark of distinction in the bullion market.
But the fix, along with other commodity benchmarks, has come under growing regulatory scrutiny since the Libor scandal last year. ...
... For the full story:
http://uk.reuters.com/article/2014/02/18/us-gold-fix-frontrunner-idUKBRE...
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