LONDON, 12 November 2014 – Changes to London's gold bullion benchmark the Fix are being driven by regulatory demands says the Financial Times online today, quoting comment from BullionVault head of research Adrian Ash.
"The gold fix has functioned for almost 100 years without very many problems," says the FT, noting further pressure for the OTC market – meaning 'over-the-counter', with each buyer and seller trading directly – to move onto trading via a formally regulated financial exchange platform.
"If two private parties want to buy a lump of something I don't think it should be restricted," says Adrian. Trade body the London Bullion Market Association "could do a more vocal job of showing the benefits of the existing OTC system," says another market participant.
Readers with a subscription to FT.com will find the full report here:
