• Read our RSS feeds
  • Join the Metal Bulletin group on LinkedIn
  • Follow us on Twitter
  • Follow us on Youtube

Copying and distributing are prohibited without permission of the publisher

HOTTER ON METALS: Barclays, reining in the VAR

April 22, 2014 - 20:50 GMT Location: New York

KEYWORDS: Barclays , metals , LME , structured products , regulation , index

It’s been a slow, painful process, almost like a divorce, but finally Barclays’ separation from the London Metal Exchange is nearing completion.

But having said it plans to exit most of its global commodities businesses, the UK bank still can’t quite take off its copper wedding band. Barclays will continue index activity on the LME, sources familiar with the situation say, and will remain a category II member of the exchange. Presumably index activity refers to the bank’s structured products desk and its S&P commodity index business. And presumably it will take a decision on its LME membership once the dust settles, either keeping it so it can clear but staying relatively inactive otherwise, or dropping out entirely down the line. The ambiguity allows the bank...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.


subscribe to this feed Comment & analysis

Upcoming Events

MB Glossary


From Aluminium to Zinc...
Search this free glossary on metals