Several Chinese banks have expressed interest in participating in the new global price setting mechanism for silver, according to the head of the London Market Bullion Association.

据伦敦金银市场协会(London Bullion Market Association，简称LBMA)主管的说法，几家中资银行对参与全球新的白银定价机制表示了兴趣。

The LBMA ushered in a new era of electronic benchmarking for London’s precious metals market in August when an algorithm was used for the first time to set the benchmark price for silver.

LBMA引领伦敦贵金属市场进入电子基准价格的新时代。今年8月该机构首次使用一种算法设定银价的基准价格。

But so far only five participants have signed up to the new process, with JPMorgan Chase joining on Monday. The LBMA Silver Price replaces a closed teleconference run by member banks that was criticised for being opaque and vulnerable to manipulation.

但到目前为止，算上周一加入的摩根大通(JPMorgan Chase)，只有五家银行签署协议加入了这一新的定价流程。LBMA白银机制(LBMA Silver Price)替换了由成员银行召开不公开电话会议的流程，这一程序此前被人批评不够透明，容易受到操纵。

Banks and traders have become wary of committing to financial benchmarks following several alleged rigging scandals. In May, Barclays was fined £26m for attempting to manipulate the London gold fix, which is used to value billions of dollars of derivatives contracts annually.

在几次涉嫌操纵市场的丑闻之后，银行与交易商对参与金融基准指标的制定已开始持谨慎态度。今年5月，巴克莱银行曾因企图操纵伦敦黄金定价机制而被罚款2600万英镑，这种定价机制每年被用于为数十亿美元的衍生品合同估价。

In an interview with the Financial Times, Ruth Crowell, chief executive of the LBMA, said several Chinese banks were also interested in joining the Silver Price alongside JPMorgan, HSBC, UBS, Mitsui & Co Precious Metals and the Bank of Nova Scotia.

在接受英国《金融时报》采访时，LBMA首席执行官露丝•克罗韦尔(Ruth Crowell)表示，除了摩根大通、汇丰银行(HSBC)、瑞银(UBS)、三井贵金属(Mitsui & Co Precious Metals)和加拿大丰业银行(Bank of Nova Scotia)以外，几家中资银行也对加入该机制十分感兴趣。

“It will take some time from a controls perspective for them [Chinese banks] to get where they need to be. But I would imagine they will look to do both gold and silver simultaneously,” said Mrs Crowell. “It will make the London market that much more international.”

LBMA白银定价机制的建设受到了市场参与者和监管机构的密切关注，因为这种定价机制很可能取代伦敦沿用百年之久的黄金定价机制。新机制应该会在年底启用。

The progress of the LBMA Silver Price is being closely scrutinised by market participants and regulators because it is likely to be used as a replacement for London’s century-old gold fix. It should be in operation by the end of the year.

几百年来，伦敦始终主导着金银实体交易，不过如今伦敦正面临来自亚洲的竞争。在亚洲，三大金融中心正计划实行黄金合同。

The process to find a new administrator for gold is also being overseen by the LBMA, which has previously focused on accrediting refiners and checking the quality of physical gold.

克罗韦尔表示：“说到底，伦敦拥有独特的经验和视角，特别是实体金库方面的体验，这种经验很难消除。在紧张时期要想出售实体金银，把它们放在这里（伦敦）会更有优势。”

This has resulted in an increased workload for the association which Mrs Crowell describes as a hybrid of a trade association and a market infrastructure consultant.

出于这个原因，许多市场参与者也认为伦敦将依然是全球实体黄金交易的中心——尽管中国如今是全球最大的黄金生产国和消费国。

In spite of recent benchmark scandals, Mrs Crowell said she was confident London would remain at the centre of physical trading of gold.