VIDEO: 117-year old London silver fix ends

Hours before the auction-based and auditable substitute for the 117-year old silver fix goes live on Friday there was still no certainty over who will take part or how trades will be routed.

The LBMA-led search for an alternative to the gold and silver fix came as market regulators had been scrutinizing benchmarks across the financial sector in the wake of a scandal involving rigging of interest rates.

Ross Norman, CEO of Sharps Pixley, discusses the implications of the end of London's Victorian era silver fix on CNBC.