And RFI called for service providers to provide information to assist in the LBMA in providing recommendations that EY - formerly known as the Ernst & Young - in the strategic review.
The company said in a statement on Wednesday that the purpose of the RFI to help the LBMA to understand the possible options available to the markets, gold, silver, platinum and palladium.
", And more specifically, request service providers to provide information to assist in the provision of a series of strategic objectives of the precious metals market London", he said.
The LBMA These include the promotion of transparency, and improve efficiency and expand the technology requirements in the market to facilitate growth and reduce costs and attract more liquidity.
Responses to the RFI will be discussed by a group of users comprising representatives of the management committee and liquidity providers LBMA. This will be supported by the London Precious Metals Clearing Limited
EY has been appointed as independent facilitator for a group of users and will be responsible for providing the evaluation criteria that will be evaluating various possible services.
John will fragment of cubic G Metal Co., Ltd and David Gornall former Prime LBMA DG consulting expertise to provide the subject matter for the executive group and user LBMA, LBMA also announced.
The statement said the group of users to make recommendations to ommittee managementc, who will make the final decision with respect to any service provider (s) will be the final list to propose formally dedicated services to the market.
The RFI responses will be considered by the LBMA during the rest of the year - and this includes bilateral discussions with service providers, followed by presentations and selection of optimal solutions in the first quarter of 2016 service providers.