And while the LME has rolled back several initiatives this year while exploring new options, the CME attracted record numbers of investors seeking simplicity, certainty and modern technology that streamlines trading and other financial transactions.
The year started dramatically when LME ceo Garry Jones stepped down in January after leading the exchange for three years.
His replacement, 34-year-old Matthew Chamberlain, had had to contend with a customer base frustrated with high fees and on shaky ground as the world's preeminent base metals exchange.
In response, on September 7 the LME announced substantial reductions in trading fees
to support its physical user-base and further encourage the use of its daily date structure. It also cut member-to-member trading fees; users cheered the much-requested reduction to around 2011 lows.
"I haven’t heard anyone say [fees are still too high] yet....