LME postpones pre-trade transparency notice, explores alternative

The London Metal Exchange has postponed the publication of a consultation notice outlining its pre-trade transparency (PTT) rule changes this month, and is considering adopting an alternative solution favored by the majority of its members.

In an email to members of the PTT Working Group seen by Fastmarkets, the LME’s senior vice president of business development, Kevin Nutt, said that the exchange was aware that most of its members wanted to adopt a Fixed Price Auction (FPA) solution instead of its original proposal for a Customer Order Approach (COA) and Market Quote Approach (MQA).

“The LME is fully aware that any of the proposed solutions will require some form of business process, and technological change for our...

Published

Andrea Hotter

October 16, 2019

18:20 GMT

New York