The gold industry group said it has launched a survey to request further feedback from market participants on the proposed solutions. Participants will be asked to confirm which solution they will be willing to participate in, the LBMA said.

LBMA said it expects a market consensus will emerge in November after consultation with regulators. In addition, LBMA will undertake testing in December ahead of the launch early next year.

Broker Autilla Ltd (Sapient), the Chicago Mercantile Exchange (>> CME Group Inc) jointly with Thomson Reuters (>> Thomson Reuters Corporation), U.S. derivatives bourse Intercontinental Exchange (>> Intercontinental Exchange Inc), the London Metal Exchange (>> Hong Kong Exchanges and Clearing Limited) and broker ICAP's (>> ICAP plc) online platform EBS have been short-listed to provide the new daily gold price mechanism.

(Reporting by Frank Tang; Editing by James Dalgleish)