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Commodities Corner: London silver benchmark providers to step down

The London Bullion Market Association is set to launch a search for a new provider for its London silver benchmark, after CME Group and Thomson Reuters said last week that they’ll be stepping down.

CME Group and Thomson Reuters didn’t offer specific reasons for their decision, but Thomson Reuters on Friday noted that coming European benchmark regulation prompted a review of the LBMA silver price administration arrangements.

The LMBA silver price is the global reference rate for the price of silver. It has been set by electronic auction, with the Thomson Reuters and CME Group providing it to the LBMA.

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