LME WEEK ASIA: Bourse to offer electronic warehouse receipts audit system

The London Metal Exchange plans to roll out an electronic audit system for warehouse receipts to boost confidence in processes that were shaken after the Qingdao scandal.

“There has been a lot of talk about warehouse systems and credibility and security of warehouse receipts,” chief executive Garry Jones said at the LME WEEK Asia seminar in Hong Kong on May 20. The new programme is called Centinal and it is a warehouse receipt system for global use, for any commodity. It is being developed along with UK-based firm Kynetix that has earlier worked...

Published

Deepali Sharma

May 20, 2015

23:17 GMT

Hong Kong