London Metal Exchange says can offer three solutions to silver fix

LONDON Mon Jun 16, 2014 9:28am EDT

Men walk past the London Metal Exchange (LME) in London, July 22, 2011. REUTERS/Paul Hackett

Men walk past the London Metal Exchange (LME) in London, July 22, 2011.

Credit: Reuters/Paul Hackett

LONDON (Reuters) - The London Metal Exchange (LME), which is competing to offer an alternative to the silver fix when the system is disbanded in August, said on Monday it could offer three different solutions.

The exchange, owned by Hong Kong Exchanges and Clearing Ltd (0388.HK), has already proposed an enhanced solution to the current telephone-based method, with better auditing and compliance, Chief Executive Gerry Jones told a presentation.

He also said the LME could also provide a open-outcry ring based solution or an electronic platform, he added.

(Reporting by Eric Onstad, editing by David Evans)

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