May 10, 2017 / 8:55 AM / 3 months ago

LME will submit proposal to provide London silver price benchmark

BEIJING, May 10 (Reuters) - The London Metal Exchange (LME) will submit a proposal to take over the London silver fix, James Proudlock, managing director and head of market development for the exchange and its clearing business, said on Wednesday.

A request for proposals was recently issued to find a replacement for CME Group and Thomson Reuters after they said they would step down from providing the silver price benchmark auction less than three years after successfully bidding to provide the process. (Reporting by Josephine Mason; Editing by Christian Schmollinger)

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