伦敦黄金定盘价迎来改革
关键词:伦敦黄金定盘价
据外媒报道,知情人士周三称,已经存在95年的伦敦黄金定盘价机制将进行重大改革,负责确定这一每日基准价格的几家银行已经开始寻找一个第三方管理者来管理定价过程。
此前白银定盘价机制也经历了类似改革。8月15日,一个由芝加哥商业交易所控股公司和汤森路透联合提供的新系统将取代现在的白银定盘价系统。知情人士称,目前负责确定伦敦黄金定盘价的银行——巴克莱、汇丰、加拿大丰业银行和法国兴业银行正在为该黄金基准定价机制寻找一位独立主席以及一个第三方管理者。他们称,这些银行还在为该基准制定新的行为准则。
在2012年发生伦敦银行间拆放款利率操纵案后,伦敦黄金定盘价与其他大宗商品指标价格一样,受到欧洲和美国监管当局日益密切的关注,之后这个机制也暴露出不少漏洞。现在,虽然黄金生产商和消费者可能不愿对现有的定价指标全盘推到重来,但在逐步改革中,却需要向着提高参与性和透明度的方向迈进,逐步将黄金定价权的参与制定机制和管理机制逐步分开。目前,参与定价的四大银行同时兼有管理功能,它们没有参与未来定价机制的讨论,而缺席的代价是它们在未来的机制中会丧失目前的垄断地位。未来会有更多的机构参与黄金价格制定,包括更多的银行、以基金公司为代表的交易方等,按照讨论组织方世界黄金协会的说法,这是让“黄金基准价现代化”的一项改革。
新的定盘价参与方会从改革中得益,伦敦也会维持黄金交易中心的历史与现实地位,失意方就只能是之前搞砸了的传统定价行了。当更多机构参与黄金定价时,意味着稀释了目前定价行的权利。当黄金定价更加开放,同样也会让这个行业降低信誉风险成本,吸引更多的市场参与者,这么看来,对传统行业来说也不都是坏事。
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本文来源: 大田环球贵金属
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