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IBA launches LBMA Gold Price consultation

First Published 15th April 2015

ICE Benchmark Administration launches consultation for LBMA Gold Price.

London - Intercontinental Exchange, the network of exchanges and clearing houses, has announced that ICE Benchmark Administration (IBA) is launching a market consultation on three aspects of the LBMA Gold Price auction process.

The three areas covered by the market consultation are: the approach for determining the LBMA gold benchmark price in the event that the minimum number of participants are not present, a review of the long-standing convention to add a 'Seller's Premium' to the benchmark price for settlement purposes, and the usage of gold prices published in currencies other than US Dollars.

The market consultation will close on May 1, 2015 and the Gold Price Oversight Committee will consider the responses. IBA will publish the results and feedback of the market consultation in due course.