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...