Marex Spectron, the global commodities broker, today announced that it will be joining the ICE Benchmark Administration’s (IBA) Gold and Silver Price Auctions on 3 April as a direct participant. Marex Spectron will then be part of the twice daily gold, and once a day silver, electronic auction process, which sets the LBMA gold and silver prices.
These are the global benchmark prices for unallocated gold and silver delivered in London and are used by participants from around the globe as the official reference prices.
David Govett, Head of Precious Metals and FX at Marex Spectron, commented: “As a direct participant in the IBA auctions, we will be able to transact business for clients on the global benchmarks. This is a significant step-up for our business as we continue to develop bullion to the next level.”
IBA became the gold benchmark administrator in March 2015 and the administrator of the silver benchmark in October 2017.
If you have any questions or are interested in the process, please contact David Govett on 0207 377 5243 or firstname.lastname@example.org.