About London Silver Fix
Three Market Making members of the LBMA conduct the Silver Fixing meeting under the chairmanship of The Bank of Nova Scotia–ScotiaMocatta by telephone at noon(Greenwich Mean Time) each working day. The other two members of the Silver Fixing are Deutsche Bank AG and HSBC Bank USA, NA.
The process then follows a similar pattern to gold price fixing. Orders are placed by clients in dealing rooms of members of the Fixing who net all orders before communicating that net interest to their representative at the Fixing. The gold price is then adjusted up and down until demand and supply is matched at which point the price is declared "Fixed" and all business is conducted on the basis of that Fixing Price.
About London Platinum Fix
The Fixings commence at 9.45 am and 2.00 pm London time and take place on every day on which members are open for dealing in London. They are conducted by telephone. The Fixing price represents the matching of orders from customers throughout the world. The Fixings make it possible for any interested party, be they supplier, consumer, dealer or investor, to trade at the price at which every current interest is satisfied.