LONDON, July 14 (Reuters) - Intercontinental Exchange has been provisionally selected as the new operator of the London Bullion Market Association silver benchmark, three precious metals market sources said.
A formal decision on the LBMA Silver Price has yet to be made, but is expected within days once final conditions have been settled.
“It’s definitely ICE,” one source said.
The LBMA and ICE declined to comment.
A race to provide the auction process that sets the benchmark, for which the LBMA owns the intellectual property rights, narrowed to two potential providers, ICE and the London Metal Exchange, earlier this year.
Reporting by Jan Harvey and Peter Hobson; Editing by Dale Hudson