ICE won a beauty parade of exchanges and data vendors in November
The benchmark unit of the Intercontinental
Exchange said at least six banks will participate in the new
gold pricing process when it goes live on Friday, marking the
US exchange’s first foray into metals
ICE Benchmark Administration (IBA) said it
was happy with six participants and expects more banks to come
on-board over the coming weeks.
Finbarr Hutcheson, president of IBA, said:
"We’d like to have as many direct participants as
possible. From day one we will have at least six direct
participants including Barclays, HSBC, Scotia Bank, Societe
Generale and UBS – which makes the new gold price the
first to launch with an increased number of participants.
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