CME: Confidence needed in gold, silver fixes

THE new solutions to the gold and silver fixes must provide confidence, which can be done through greater participation and transparency, said Chicago Mercantile Exchange (CME), the largest futures exchange operator in the US.

The lack of transparency is the main problem with the current benchmarks now, said its executive director of metals products, Harriet Hunnable, in an interview with The Business Times yesterday.

The questions that market participants have asked is "how can people understand the mechanism better in future, and how can they have more confidence in the volume that they trade", said London-based Ms Hunnable, adding that "these are not difficult things to bring".