Victorian-era silver ‘fix’ gets electronic revamp
Please enter a valid telephone amount. Please enter your Phone Number. Send Thanks! A link has been transmitted. Done Endless Jewelry Gets Backing from Lars Seier Christensen Endless Jewelry 2 hours ago 0 shares Done COPENHAGEN, Denmark, August 12, 2014 /PRNewswire/ — Endless Jewelry, a brand-new high-quality jewellery collection, has received financial backing from a group of investors including Lars Seier Christensen, co-founder and CEO of Saxo Bank. Endless Jewelry was created in 2013 by Jesper Nielsen, a Danish entrepreneur plus past CEO of KasiGroup, a reseller of PANDORA jewellery. Christensen joins a small group of new investors in the firm that concentrates on the design and distribution of a collection of affordable, high-quality leather bracelets and charms and aims to be 1 of the fastest growing jewellery brands inside the world. With 23.55% of the ownership, Christensen as well as the modern group of investors are an important element of the brand-new ownership structure of the firm, though the Nielsen family remains majority shareholders plus Jesper Nielsen as CEO. Lars Seier Christensen commented: “Endless Jewelry has absolutely achieved a awesome deal inside a short amount of time, having finalized over 2000 agreements with jewellers, distributors plus a few of the main retail chains worldwide. “I have followed Jesper Nielsen and his management team for a number of years and have been impressed by the company’s competency, bold ambitions plus sound business program.Its achievements to date demonstrate the appeal of the collection to retailers and shoppers plus I am surprisingly much lookin forward to being element of the development of the organization I believe can become a noticeable player in the industry.” Jesper Nielsen, founder plus CEO of Endless Jewelry, furthermore expressed great joy at the prospect of using the new co-owners: “It is a terrific asset to have Lars Seier Christensen on board with Endless both as an investor and because a trusted consultant when it comes to the financial performance of the firm. The growth you are experiencing especially in the United States needs a strong capital base plus with all the new ownership structure, you have a surprisingly strong foundation. “The new ownership structure signifies that you, regardless of exterior factors, will continue to develop and fulfil the massive potential of Endless Jewelry.” Additionally to the Nielsen family plus Lars Seier Christensen, the group of owners moreover include past chairman plus CEO of Esprit Heinz Krogner among others. Endless Jewelry is a fresh jewellery brand inside the “affordable luxury” category, established in 2013. Its goods comprise of 12 colourful bracelets in leather, plus 450 different classic and fashionable charms in gold, rose gold plus sterling silver. Endless Jewelry is avaI’ll continueilable inside 3,000 shops in 18 nations inside Europe and North America. Contact: Steen Laursen, firstname.lastname@example.org , +45-6143-8922
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Under the old ‘fix’, 3 banks — HSBC, Deutsche Bank and Bank of Nova Scotia — held a daily meeting call to set silver’s worldwide benchmark, permitting traders to purchase plus market the metal at a single cost. Read More Gold demand sinks 16% year-on-year inside Q2 Simon Dawson | Bloomberg | Getty Images Earlier this year, Deutsche Bank, attempted to market its “fixing seat” because piece of its scaling-back of its commodities business. But, no buyer can be found plus, considering the program may no longer run with simply two members, U.K. financial watchdog the Financial Conduct Authority (FCA) place plans inside place for a modern electronic program. Read More French builders take $1.2M inside buried treasure “Silver is a $5 trillion marketplace, there are thousands of contracts that underpin this market plus they need to reference something during the contracts, in the event you are a refiner or a jewellery firm, you need a benchmark,” mentioned Ross Norman, CEO at valuable metal sellers Sharps Pixley. The last final conference call between your three banks took area on Thursday following the FCA asked Deutsche Bank to wait until an alternative procedure to fix the metal’s price was submit place.
117-year older London silver fix ends
Ross Norman, CEO of Sharps Pixley, discusses the implications of the finish of London's Victorian era silver fix.
The fresh program, called the London Silver Price is an electronic auction that might take spot at midday London time about a trading platform provided by exchange CME Group and jointly administered by Thomson Reuters. Read More Why is the gold cost immune to global strife? Norman mentioned only hours before the initially electronic fix, he didn’t recognize who to call to put trades by. “We are told we will recognize the participants, the routes through which you can put our silver trades between today plus midday, however it remains to be acknowledged who precisely that will be. So you will virtually absolutely have a valid silver cost today, yet you don’t know how it’s going to arise,” he told CNBC. By CNBC’s Jenny Cosgrave: Follow her on Twitter @jenny_cosgrave
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