Standard Bank May Claim Deutsche Bank’s Gold Fix Seat

Reuters reported that Standard Bank is shaping up to be the lead competitor for Deutsche Bank AG’s (NYSE:DB) London gold fix seat. Deutsche Bank has held the seat for 20 years, but last month put it up for sale.

As quoted in the market news:

Market sources said Standard Bank, in conjunction with ICBC, is in prime position to buy the Deutsche seat. ‘Standard Bank is a shoo-in for the fixing seat – they want it, and it would be acceptable to the other members,’ a senior gold market source told Reuters. ‘It’s just whether they can agree a fee.’

Originally sources had suggested that the deadline for a deal was the end of this year, but a deal is looking much closer now. ‘It’s more thinking in terms of months rather than quarters,’ another market source said.

Both Standard Bank and Deutsche Bank declined to comment.

Click here to read the full Reuters report.