LME users to explore alternative trading platform in working group chaired by Abbott

Amid frustration with the costs of trading on the London Metal Exchange, major users are set to join a working group chaired by Martin Abbott to explore the viability of setting up a trading venue to rival the London bourse.

Responding to discussions about the possibility of setting up an alternative trading platform, Abbott – the former chief executive of the LME who oversaw its sale to Hong Kong Exchanges and Clearing (HKEX) in 2012 – will supervise the process of formally gauging the market’s interest in doing so, he told Metal Bulletin on Monday June 6.

“Over the past few months, there have been lots of conversations going on among the London trading community about a new trading venue, and I’ve been part of some of those conversations. Now it’s time to add some structure, and to really find out how much of this desire...

Published

Mark Burton

June 06, 2016

13:46 GMT

London