Large Al cancelation creates delay at LME warrant depository – sources

Delays began to form at the London Metal Exchange’s warrant depository this week after large amounts of warrants were being cancelled, sources told Fastmarkets MB.

There were delays of up to five hours at the depository on Tuesday January 22, market sources said. As a result, the LME closed the depository early due to a backlog and stopped accepting further cancellations, a second source said. The LME operates LMEsword, an electronic transfer system for LME warrants, but the physical warrants are held in a central depository. When the metal is cancelled the warrant needs...

Published

Alice Mason

January 23, 2019

18:15 GMT

London