At stake is the future of LME warehousing, a system that differentiates the exchange from its peers in its breadth and scale but which has also called its reputation into question over the past couple of years.
The board is on Friday October 25 to decide the format for the LME’s warehousing rules, which were the subject of a three-month industry-wide consultation on proposals announced at the start of July.
Feedback from the consultation has been drawn into a final recommendation document prepared by the LME’s head of strategy and implementation Matt Chamberlain, and will form the basis of the board discussions. The decision will also need regulatory approval before any announcement is made.
It’s going to be a tough job to keep everybody happy.
The LME is well aware that its members are divided over the way forward for warehousing, which has become...