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Reuters reported that China Construction Bank Corp. (HKEX:0939) has signed a memorandum of understanding (MOU) with CME Group Inc. (NASDAQ:CME), and will be joining the LBMA Silver Price.
Reuters reported that China Construction Bank Corp. (HKEX:0939) has signed a memorandum of understanding (MOU) with CME Group Inc. (NASDAQ:CME), and will be joining the LBMA Silver Price.
According to the news outlet, Chinese institutions are starting to play an increasing role in international precious metals markets.
As quoted in the market news:
CME, in conjunction with Thomson Reuters (TRI.TO), parent of Reuters News, took over as operator of the London silver XAG= price benchmark last year, after the historic precious metals “fixes”, in use in some cases for more than a century, were replaced by electronic auctions.
CCB will join HSBC (HSBA.L), JPMorgan Chase (JPM.N), Mitsui & Co Precious Metals, Bank of Nova Scotia – ScotiaMocatta, Toronto Dominion Bank and UBS (UBSG.VX) in taking part in the daily auction process hosted by CME and Thomson Reuters.
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