Silver price administration & governance

LBMA Silver Price

The new electronic algorithm-based system for calculating silver prices, provided by Thomson Reuters and CME Group, and designed to be more transparent and accountable.

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An employee holds silver granular pieces at the PT Antam Tbk. precious metal refinery in Jakarta January 15, 2009.
REUTERS/Beawiharta

Overview

The LBMA Silver Price is the global reference rate for the price of silver, set by electronic auction, provided for LBMA by Thomson Reuters and the CME Group.

Each auction opens at 12 noon London time with a start-price and lasts 30 seconds. There is no limit to the number of auction rounds that can be taken to determine the rate, and there is no limit to the number of participants.

Thomson Reuters distributes both the price and auction round data over the Eikon desktop and the Elektron platform as standard.

The final LBMA Silver Price is also available in DataScope as an end-of-day value, and the data are redistributed by the major data vendors.

Content and features

Distributed over the Eikon desktop

Use the RIC code <LDNXAG=> or type ‘silver’ into Eikon search box.

Available in DataScope

The final LBMA Silver Price is also available in DataScope as an end of day value, and the data are redistributed by the major data vendors.

On other Thomson Reuters platforms

The RIC for the current London Silver Fix <XAGFIX=> continues to work, though this redirects to the new LBMA Silver Price <LDNXAG=>. View aggregated and anonymised bid and offer volumes for each auction round at <0#LDNXAG=>.

Markets and industries

Commodities

Get LBMA Silver Price and auction rounds data over the Eikon desktop and Elektron platform, and in DataScope as an end-of-day value.

Governance and oversight

The LBMA Silver Price oversight committee reviews and maintains the definition, setting, scope and methodology of the LBMA Silver Price benchmark.

The current members of the committee are as follows:

Gavin Lee – CME

Courtney Lynn – Coeur

Neil Stocks – Independent chairman

Sakhila Mirza – LBMA

John Ewan – Thomson Reuters

Martyn Smith – The Royal Mint

Bernhard Fuchs – Umicore

Simon Weeks – Scotiabank

LBMA Silver Price

The new system for silver prices

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