LONDON and CHICAGO, Oct. 21, 2016 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, and Thomson Reuters today announced that Morgan Stanley has joined the LBMA Silver Price as a new member. CME Group and Thomson Reuters operate the Silver Price.
Morgan Stanley, a global financial services firm, will be the seventh participant joining China Construction Bank, HSBC Bank USA NA, JPMorgan Chase Bank, The Bank of Nova Scotia, The Toronto Dominion Bank and UBS AG. They will first participate in the Silver price auction on October 25, 2016.
"We're very pleased to have Morgan Stanley join as a participant in the LBMA Silver Price," said William Knottenbelt, Senior Managing Director, International, CME Group. "The addition of another member brings greater depth and diversity to the market and underlines the ongoing globalisation of the Silver Price as a leading, liquid precious metals benchmark."
Ruth Crowell, Chief Executive of the LBMA, commented: "I am delighted that Morgan Stanley has joined the LBMA Silver Price auction process. They add depth and liquidity to the auction and I look forward to other market participants joining in the future."
Tobias Sproehnle, Head of Benchmarks, Thomson Reuters, said: "With the addition of Morgan Stanley to the panel, the LBMA Silver Price provides even deeper insight into the global silver market. We continue to welcome new participants to this essential mechanism for the markets."
CME Benchmark Europe Limited and Thomson Reuters have operated the LBMA Silver Price since August 2014 when they took over responsibility from the London Silver Market Fixing Limited.
About Thomson Reuters
Thomson Reuters is the world's leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, visit www.thomsonreuters.com.
About CME Group
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. Around the world, CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its exchanges based in Chicago, New York and London. CME Group also operates one of the world's leading central counterparty clearing providers through CME Clearing and CME Clearing Europe, which offer clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives. CME Group's products and services ensure that businesses around the world can effectively manage risk and achieve growth.
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SOURCE CME Group