LME will keep ring open ‘as long as market needs it’

The London Metal Exchange will keep the open-outcry trading ring open “for as long as the market needs it”, ceo Garry Jones announced on Monday June 23.

After a six-month internal review, the LME has decided to keep the ring open beyond January 2015, and invest £1 million in new technology to enhance the price-discovery process on the floor. When it acquired the LME, Hong Kong Exchanges and Clearing pledged to keep the ring open until at least January 2015, which created uncertainty about its future beyond that date. After consulting with more than 25 stakeholders including all ring-dealing members and several trade bodies over the past six months, the LME has vowed to keep the ring open as long as it valued by the market. “The LME will continue to host...

Published

Mark Burton

June 23, 2014

13:35 GMT

London