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

Try the new Metal Bulletin BETA site...

We've added some great new features and tools which we think you'll find useful:

  • Easier to use navigation including links to new sections
  • Cleaner interface for the Price Book with easier to use data views
  • More dedicated pages for specific metals e.g chrome, antimony, nickel
  • Better search tools for news and prices with handy filters

Simply click 'Yes please' below to go straight to the BETA site
(Please note: you will need to log into the BETA site on your first visit. Plus you can return to the original site any time you wish)