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Chinese banks to join new gold fix in March
By Henry Sanderson
Financial Times, London
Monday, February 2, 2015
The replacement for the near-century old London gold fix will start in March, with the hope of attracting at least 11 members, including Chinese banks for the first time.
UK financial authorities are undertaking an assessment of financial benchmarks in the wake of a series of scandals, including the gold fix.
The presence of Chinese banks would give the world's second-largest consumer of the yellow metal a greater say in the global gold price. Participants in the fix aggregate orders from clients on to a platform to determine the price. ...
... For the remainder of the report:
http://www.ft.com/intl/cms/s/0/bdd0079c-a894-11e4-ad01-00144feab7de.html...
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